Fifth Third Bancorp Boosts Stake in Cactus, Inc. $WHD

Fifth Third Bancorp boosted its position in shares of Cactus, Inc. (NYSE:WHD) by 3,161.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 16,798 shares of the company’s stock after acquiring an additional 16,283 shares during the period. Fifth Third Bancorp’s holdings in Cactus were worth $796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WHD. Paradice Investment Management LLC boosted its holdings in shares of Cactus by 16.1% in the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock worth $30,877,000 after purchasing an additional 93,714 shares during the period. VELA Investment Management LLC raised its holdings in Cactus by 24.2% during the 4th quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock valued at $6,671,000 after buying an additional 28,493 shares during the period. UBS Group AG raised its holdings in Cactus by 81.8% during the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after buying an additional 171,223 shares during the period. Vest Financial LLC lifted its position in Cactus by 24.7% in the fourth quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock worth $6,147,000 after buying an additional 26,669 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Cactus in the fourth quarter worth $2,053,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 12.91% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Citigroup upped their price target on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.60.

Cactus Stock Down 2.3%

Shares of WHD opened at $53.86 on Tuesday. The firm has a market capitalization of $4.32 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.08 and a beta of 1.38. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $64.30. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $55.81 and a 200-day moving average price of $54.13.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. Equities research analysts expect that Cactus, Inc. will post 2.92 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio is 52.83%.

Cactus Company 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.