Castleark Management LLC Buys New Position in Cactus, Inc. (NYSE:WHD)

Castleark Management LLC acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 17,490 shares of the company's stock, valued at approximately $1,021,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WHD. Emerald Advisers LLC lifted its holdings in Cactus by 20.6% in the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company's stock valued at $17,935,000 after acquiring an additional 52,552 shares during the period. Principal Financial Group Inc. increased its position in Cactus by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company's stock worth $20,853,000 after purchasing an additional 15,035 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cactus by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company's stock valued at $40,939,000 after buying an additional 13,669 shares during the period. Raymond James Financial Inc. purchased a new stake in Cactus in the 4th quarter valued at about $16,377,000. Finally, Axiom Investors LLC DE grew its holdings in Cactus by 26.0% in the 4th quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock valued at $8,714,000 after buying an additional 30,851 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WHD shares. JPMorgan Chase & Co. decreased their target price on Cactus from $54.00 to $52.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Barclays cut their target price on Cactus from $54.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $52.33.

Cactus Stock Up 0.2%

Shares of WHD traded up $0.10 during trading on Friday, reaching $41.54. The company's stock had a trading volume of 740,547 shares, compared to its average volume of 799,978. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 5.13 and a beta of 1.50. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a fifty day moving average of $41.05 and a two-hundred day moving average of $53.40.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.25%. Cactus's payout ratio is currently 18.51%.

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.