Gabelli Funds LLC Acquires 11,250 Shares of Cactus, Inc. $WHD

Gabelli Funds LLC raised its holdings in Cactus, Inc. (NYSE:WHD) by 18.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 72,627 shares of the company’s stock after purchasing an additional 11,250 shares during the period. Gabelli Funds LLC’s holdings in Cactus were worth $3,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Cactus by 52.8% in the third quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Cactus in the second quarter worth $30,648,000. Capital Research Global Investors acquired a new stake in Cactus in the third quarter worth $19,563,000. Ameriprise Financial Inc. raised its holdings in Cactus by 130.7% in the second quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock worth $30,340,000 after purchasing an additional 393,260 shares during the period. Finally, Danske Bank A S raised its holdings in Cactus by 1,199.5% in the fourth quarter. Danske Bank A S now owns 352,367 shares of the company’s stock worth $16,096,000 after purchasing an additional 325,252 shares during the period. 85.11% of the stock is owned by institutional investors.

Cactus Stock Down 0.1%

Cactus stock opened at $62.11 on Friday. The firm has a market capitalization of $4.98 billion, a PE ratio of 58.59, a P/E/G ratio of 2.43 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The company’s 50-day moving average is $52.45 and its 200-day moving average is $50.44. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $62.75.

Cactus (NYSE:WHD) last announced its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. Cactus’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. Sell-side analysts anticipate that Cactus, Inc. will post 2.88 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

Insider Transactions at Cactus

In related news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joel Bender sold 106,809 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the transaction, the president owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,206 shares of company stock valued at $11,295,784. Company insiders own 12.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Barclays raised their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Cactus has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

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