Federated Hermes Inc. Takes Position in Cactus, Inc. (NYSE:WHD)

Federated Hermes Inc. acquired a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 329,600 shares of the company's stock, valued at approximately $19,235,000. Federated Hermes Inc. owned approximately 0.41% of Cactus as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in shares of Cactus by 0.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 37,412 shares of the company's stock valued at $2,183,000 after purchasing an additional 169 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Cactus by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock valued at $606,000 after buying an additional 180 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Cactus by 1.3% in the 4th quarter. New York State Teachers Retirement System now owns 15,700 shares of the company's stock worth $916,000 after buying an additional 200 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Cactus by 7.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,369 shares of the company's stock worth $197,000 after acquiring an additional 221 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock valued at $30,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 85.11% of the company's stock.

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Cactus Stock Up 1.3 %

Shares of WHD traded up $0.46 on Monday, hitting $36.71. 100,897 shares of the stock traded hands, compared to its average volume of 761,224. The company has a market capitalization of $2.92 billion, a PE ratio of 13.02, a P/E/G ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The business has a 50 day simple moving average of $49.29 and a 200 day simple moving average of $57.73.

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

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, March 3rd. Cactus's payout ratio is presently 18.84%.

Analyst Upgrades and Downgrades

Separately, Barclays cut their price objective on shares of Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $55.00.

Cactus Profile

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.