Ceredex Value Advisors LLC Reduces Stake in Cactus, Inc.

Ceredex Value Advisors LLC has cut its holdings in Cactus, Inc. (NYSE:WHD) by 37.2% during the third quarter. This information comes from the company's most recent 13F filing with the Securities and Exchange Commission. After selling 98,800 shares during this period, Ceredex now owns a total of 167,019 shares, valued at approximately $9,966,000. This represents about 0.21% of Cactus's total stock.

Institutional Stake Changes

Several other large investors have also adjusted their positions in Cactus recently. For instance, GAMMA Investing LLC increased its stake by 33.8% in the second quarter, now owning 1,345 shares valued at $71,000 after an additional purchase of 340 shares. SG Americas Securities LLC added a new stake worth around $115,000 during the first quarter. Additionally, Covestor Ltd raised its holdings by an impressive 251.8%, now holding 2,508 shares valued at $126,000 after acquiring 1,795 more shares. Central Pacific Bank Trust Division also initiated a new position in Cactus worth about $182,000. Nisa Investment Advisors LLC modestly increased its position by 10.8% in the third quarter, owning a total of 3,148 shares worth around $188,000 after an increase of 307 shares. Overall, institutional investors and hedge funds own approximately 85.11% of Cactus's stock.

Cactus Stock Performance

As of Friday, Cactus stock was trading at $60.58, with a market capitalization of $4.82 billion. The stock has a price-to-earnings (P/E) ratio of 21.48 and a price-to-earnings-growth (PEG) ratio of 2.83. Cactus has a low debt-to-equity ratio of 0.01, with a quick ratio of 2.59 and a current ratio of 3.82. Over the past year, the stock's performance has shown variability with a low of $37.58 and a high of $64.96. Its recent 50-day moving average stands at $59.76 while the 200-day moving average is at $55.83.

Recent Earnings Report

Cactus (NYSE:WHD) released its latest quarterly earnings on October 30th. The company reported earnings of $0.74 per share, which met analysts' expectations. Revenue for the quarter totaled $293.18 million, exceeding analysts' anticipated $287.47 million. The company displayed a return on equity of 20.24% with a net margin of 16.57%. Compared to the previous year, the revenue increased by 1.8%, though earnings per share were slightly lower than the prior year's $0.80. Looking ahead, analysts project that Cactus, Inc. will achieve an EPS of 3.04 for the current fiscal year.

Dividend Announcement

Cactus has also announced a quarterly dividend that will be paid on December 19th. Shareholders who are on record by December 2nd will receive a $0.13 dividend per share. This equates to an annualized dividend of $0.52 and a yield of 0.86%, with a payout ratio of 18.44%.

Analyst Ratings and Forecasts

Several financial institutions have recently analyzed Cactus, issuing various price targets. For example, Stifel Nicolaus reduced their price target from $69.00 to $67.00 while maintaining a "buy" rating as of October 11th. Piper Sandler lowered theirs from $55.00 to $54.00 and gave a "neutral" rating. Citigroup adjusted their target from $48.00 to $52.00 with a relative "neutral" rating issued on July 10th. Barclays boosted their target from $56.00 to $61.00, providing an "overweight" rating. Bank of America also raised their target price from $44.00 to $48.00 while assigning an "underperform" rating. The consensus among analysts shows one sell rating, three hold ratings, and three buy ratings, with an average target price of $56.40 according to MarketBeat.com.

About Cactus, Inc.

Cactus, Inc. along with its subsidiaries engages in designing, manufacturing, selling, and leasing pressure control systems and spoolable pipes across various regions including the United States, Canada, Australia, the Middle East, and other international markets. The company operates through two primary segments—Pressure Control and Spoolable Technologies. The Pressure Control segment focuses on providing wellhead and pressure control equipment under the Cactus Wellhead brand from its service centers.

Ceredex, Cactus, Investors