AMG National Trust Bank Takes Position in Cactus, Inc. $WHD

Key Points

• AMG National Trust Bank opened a new position in Cactus, buying 43,055 shares worth about $2.04 million in the first quarter. Institutional ownership remains high, with hedge funds and other investors holding about 85.11% of the stock.
• Cactus reported better-than-expected quarterly results, posting EPS of $0.70 versus the $0.65 estimate and revenue of $388.35 million versus $380.42 million expected. Revenue jumped 38.5% year over year.
• Shares were down 1.6% in the session cited, while analysts remain generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $63.60. Several firms recently lifted targets, including Piper Sandler to $73 and Stifel to $68.

AMG National Trust Bank acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 43,055 shares of the company's stock, valued at approximately $2,040,000. AMG National Trust Bank owned approximately 0.05% of Cactus as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new stake in shares of Cactus in the third quarter worth $33,000. Aster Capital Management DIFC Ltd grew its stake in Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after buying an additional 314 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after acquiring an additional 543 shares during the period. Global Retirement Partners LLC raised its holdings in Cactus by 39,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company's stock worth $54,000 after acquiring an additional 1,176 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Cactus by 335.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,710 shares of the company's stock worth $78,000 after acquiring an additional 1,317 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Trading Down 1.6%

Cactus stock opened at $52.61 on Wednesday. The business has a 50 day moving average price of $56.19 and a two-hundred day moving average price of $53.65. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.38. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The company had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.Cactus's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 EPS. As a group, equities analysts forecast that Cactus, Inc. will post 2.87 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Cactus's dividend payout ratio is currently 52.83%.

Insider Activity at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares of the company's stock, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan Semple sold 10,206 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director owned 29,444 shares of the company's stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 12.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WHD shares. Wall Street Zen downgraded Cactus from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Stifel Nicolaus reissued a "buy" rating and set a $68.00 price objective (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Citigroup increased their target price on Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings raised Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Finally, Piper Sandler upped their price target on Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $63.60.

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.

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