Mesirow Institutional Investment Management Inc. Invests $728,000 in Cactus, Inc. (NYSE:WHD)

Mesirow Institutional Investment Management Inc. bought a new stake in Cactus, Inc. (NYSE:WHD) in the second quarter, Holdings Channel reports. The institutional investor bought 13,811 shares of the company’s stock, valued at approximately $728,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Cactus by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after acquiring an additional 25,839 shares during the period. Wasatch Advisors LP boosted its holdings in Cactus by 39.1% in the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after acquiring an additional 375,829 shares during the last quarter. Capital International Investors increased its position in Cactus by 3.9% in the first 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. Finally, Dimensional Fund Advisors LP raised its holdings in Cactus by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,429 shares of the company’s stock worth $47,645,000 after purchasing an additional 73,704 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of WHD opened at $56.73 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The firm has a market capitalization of $4.51 billion, a PE ratio of 22.60, a P/E/G ratio of 2.19 and a beta of 1.98. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $64.96. The stock has a 50 day simple moving average of $57.62 and a 200 day simple moving average of $52.46.

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

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 26th will be paid a $0.13 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, August 26th. Cactus’s payout ratio is presently 20.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WHD. Barclays lifted their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Citigroup increased 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, Piper Sandler decreased their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to 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.