Cibc World Markets Corp Makes New Investment in Cactus, Inc. (NYSE:WHD)

Cibc World Markets Corp acquired a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,237 shares of the company's stock, valued at approximately $364,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company's stock valued at $185,155,000 after acquiring an additional 52,085 shares in the last quarter. State Street Corp lifted its stake in Cactus by 3.0% during the third quarter. State Street Corp now owns 2,755,757 shares of the company's stock worth $164,436,000 after purchasing an additional 81,149 shares during the period. Boston Trust Walden Corp grew its stake in shares of Cactus by 0.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company's stock valued at $104,901,000 after purchasing an additional 9,884 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cactus by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company's stock worth $104,934,000 after buying an additional 106,819 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Cactus by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 1,082,658 shares of the company's stock worth $63,184,000 after buying an additional 68,718 shares during the period. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their price objective on Cactus from $61.00 to $54.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Cactus presently has a consensus rating of "Hold" and a consensus price target of $55.00.

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Cactus Price Performance

WHD traded down $0.82 during trading on Friday, hitting $45.73. The company's stock had a trading volume of 541,419 shares, compared to its average volume of 728,317. The firm's 50 day moving average price is $54.62 and its two-hundred day moving average price is $59.38. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05. Cactus, Inc. has a 12 month low of $43.27 and a 12 month high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $272.12 million during the quarter, compared to analyst estimates of $277.59 million. Sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, March 3rd. Cactus's dividend payout ratio is 18.84%.

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.