Short Interest in Cactus, Inc. (NYSE:WHD) Decreases By 18.6%

Cactus, Inc. (NYSE:WHD) saw 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 daily trading volume, of 716,700 shares, the days-to-cover ratio is currently 6.1 days.

Cactus Stock Down 2.9 %

Shares of WHD stock traded down $1.82 during trading hours on Tuesday, reaching $61.11. The company had a trading volume of 482,328 shares, compared to its average volume of 748,062. The business has a fifty day simple moving average of $59.61 and a 200-day simple moving average of $55.07. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59.

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

Cactus Increases Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Cactus

A number of institutional investors and hedge funds have recently modified their holdings of WHD. Congress Asset Management Co. MA raised its position in Cactus by 23.8% in the fourth quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock worth $5,795,000 after acquiring an additional 24,517 shares during the period. Fisher Asset Management LLC grew its stake in shares of Cactus by 3.5% during the 4th quarter. Fisher Asset Management LLC now owns 291,350 shares of the company’s stock worth $13,227,000 after acquiring an additional 9,784 shares during the period. Vanguard Group Inc. increased its stake in shares of Cactus by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock worth $295,947,000 after purchasing an additional 148,355 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cactus during the 4th quarter valued at $3,541,000. Finally, Quadrature Capital Ltd lifted its holdings in Cactus by 54.2% during the 4th quarter. Quadrature Capital Ltd now owns 27,748 shares of the company’s stock worth $1,259,000 after purchasing an additional 9,752 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

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.