Cactus, Inc. (NYSE:WHD) Shares Bought by Norden Group LLC

Norden Group LLC increased its stake in Cactus, Inc. (NYSE:WHD) by 1,182.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,252 shares of the company’s stock after acquiring an additional 108,112 shares during the period. Norden Group LLC owned approximately 0.15% of Cactus worth $5,873,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WHD. Principal Securities Inc. acquired a new stake in shares of Cactus in the fourth quarter worth approximately $30,000. GAMMA Investing LLC acquired a new stake in shares of Cactus in the fourth quarter worth approximately $33,000. TFO Wealth Partners LLC boosted its position in shares of Cactus by 221,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after acquiring an additional 2,213 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cactus in the first quarter worth approximately $202,000. Finally, Southland Equity Partners LLC acquired a new stake in shares of Cactus in the first quarter worth approximately $212,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Trading Up 1.3 %

WHD opened at $51.91 on Friday. The firm has a market capitalization of $4.13 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.63 and a beta of 1.98. The firm’s 50 day moving average is $50.97 and its 200-day moving average is $47.60. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $57.00. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01.

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, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. Analysts expect that Cactus, Inc. will post 2.94 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. Cactus’s dividend payout ratio is currently 19.12%.

Analysts Set New Price Targets

WHD has been the topic of several research analyst reports. Benchmark reissued a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Barclays raised their price target on shares of Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Bank of America raised their price target on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Finally, Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.14.

Insider Activity

In other news, President Joel Bender sold 358,458 shares of Cactus stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $51.10, for a total transaction of $18,317,203.80. Following the sale, the president now owns 156,586 shares in the company, valued at $8,001,544.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Joel Bender sold 358,458 shares of Cactus stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $51.10, for a total value of $18,317,203.80. Following the completion of the sale, the president now owns 156,586 shares in the company, valued at $8,001,544.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, the executive vice president now owns 1,852 shares of the company’s stock, valued at approximately $94,507.56. The disclosure for this sale can be found here. Insiders have sold 602,059 shares of company stock worth $30,948,949 over the last 90 days. Company insiders own 16.84% of the company’s stock.

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.