Bessemer Group Inc. Purchases 11,672 Shares of Cactus, Inc. $WHD

Bessemer Group Inc. grew its position in Cactus, Inc. (NYSE:WHD) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 349,571 shares of the company’s stock after buying an additional 11,672 shares during the period. Bessemer Group Inc.’s holdings in Cactus were worth $13,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vest Financial LLC boosted its stake in Cactus by 35.3% in the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock valued at $4,259,000 after acquiring an additional 28,139 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its position in shares of Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock worth $1,120,000 after purchasing an additional 20,258 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Cactus during the third quarter worth $1,872,000. VELA Investment Management LLC increased its holdings in Cactus by 79.6% in the second quarter. VELA Investment Management LLC now owns 115,440 shares of the company’s stock valued at $5,047,000 after purchasing an additional 51,158 shares during the last quarter. Finally, AGF Management Ltd. acquired a new position in Cactus in the second quarter valued at about $672,000. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Up 2.7%

Shares of WHD stock opened at $58.06 on Friday. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $61.38. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $49.83 and a 200-day moving average of $43.85. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 5.78 and a beta of 1.27.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s dividend payout ratio (DPR) is currently 22.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $55.00 in a research report on Thursday, December 11th. Barclays boosted their price objective on shares of Cactus from $51.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Bank of America raised shares of Cactus from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Finally, Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.20.

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