Cactus, Inc. (NYSE:WHD) Short Interest Update

Cactus, Inc. (NYSE:WHD) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 4,390,000 shares, a drop of 18.6% from the September 15th total of 5,390,000 shares. Based on an average trading volume of 716,700 shares, the short-interest ratio is currently 6.1 days.

Cactus Price Performance

NYSE:WHD traded down $1.82 on Tuesday, hitting $61.11. The company had a trading volume of 482,328 shares, compared to its average volume of 748,062. Cactus has a 52 week low of $37.58 and a 52 week high of $64.96. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.29 and a beta of 1.95. The firm has a 50 day moving average of $59.61 and a two-hundred day moving average of $55.07.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million for the quarter, compared to the consensus estimate of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. Cactus’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. On average, research analysts anticipate that Cactus will post 3.04 earnings per share for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. This is an increase from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is currently 20.72%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of analyst reports. Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday. Barclays upped their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus decreased their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler decreased their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and a consensus price target of $56.40.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Cactus by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after buying an additional 53,142 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Cactus in the second quarter valued at approximately $122,623,000. Boston Trust Walden Corp increased its position in Cactus by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after purchasing an additional 25,839 shares during the period. Wasatch Advisors LP raised its holdings in Cactus by 39.1% during the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Cactus by 3.9% in the 1st quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock worth $64,778,000 after purchasing an additional 48,379 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.