GAMMA Investing LLC Buys New Holdings in Cactus, Inc. (NYSE:WHD)

GAMMA Investing LLC purchased a new position in shares of Cactus, Inc. (NYSE:WHD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 788 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cactus by 26.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,422 shares of the company’s stock valued at $746,000 after purchasing an additional 3,405 shares during the period. Cerity Partners LLC grew its holdings in Cactus by 17.5% during the fourth quarter. Cerity Partners LLC now owns 11,142 shares of the company’s stock worth $506,000 after acquiring an additional 1,660 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Cactus by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,101 shares of the company’s stock valued at $1,321,000 after acquiring an additional 575 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Cactus by 1.4% in the fourth quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after acquiring an additional 26,185 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Cactus by 198.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after purchasing an additional 138,294 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cactus

In other news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at $180,688.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cactus news, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares in the company, valued at $915.80. The disclosure for this sale can be found here. 17.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WHD has been the subject of several analyst reports. Bank of America boosted their target price on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Benchmark lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cactus presently has a consensus rating of “Hold” and an average target price of $55.29.

Cactus Stock Down 1.3 %

WHD stock opened at $50.65 on Monday. Cactus, Inc. has a 52 week low of $31.36 and a 52 week high of $57.00. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $49.20 and a 200-day simple moving average of $45.55. The stock has a market capitalization of $4.02 billion, a P/E ratio of 20.18, a P/E/G ratio of 9.11 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.97% and a net margin of 14.46%. The company had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the previous year, the firm posted $0.64 EPS. Cactus’s revenue was up 20.0% compared to the same quarter last year. Equities analysts forecast that Cactus, Inc. will post 2.87 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, May 24th. Cactus’s payout ratio is 19.12%.

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.