Fort Washington Investment Advisors Inc. OH Has $19.91 Million Position in Cactus, Inc. (NYSE:WHD)

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Cactus, Inc. (NYSE:WHD) by 4.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,547 shares of the company’s stock after selling 17,433 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Cactus were worth $19,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Cactus by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,264 shares of the company’s stock valued at $26,889,000 after purchasing an additional 19,734 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Cactus by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 568,500 shares of the company’s stock valued at $25,810,000 after buying an additional 22,028 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Cactus by 41.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after buying an additional 94,704 shares during the last quarter. Keeley Teton Advisors LLC increased its position in Cactus by 24.0% in the 4th quarter. Keeley Teton Advisors LLC now owns 98,118 shares of the company’s stock worth $4,455,000 after buying an additional 18,962 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of Cactus by 1,182.8% during the first quarter. Norden Group LLC now owns 117,252 shares of the company’s stock worth $5,873,000 after buying an additional 108,112 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Performance

NYSE WHD opened at $59.52 on Friday. The stock has a market cap of $4.74 billion, a P/E ratio of 23.71, a PEG ratio of 2.24 and a beta of 1.98. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96. The company’s 50-day simple moving average is $57.27 and its 200 day simple moving average is $52.13.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The business had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. As a group, research analysts forecast that Cactus, Inc. will post 3.03 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. Cactus’s dividend payout ratio (DPR) is presently 20.72%.

Analysts Set New Price Targets

WHD has been the topic of several research analyst reports. Barclays raised their price objective on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Johnson Rice downgraded shares of Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.00.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.