Bessemer Group Inc. Acquires 127,250 Shares of Cactus, Inc. $WHD

Key Points

• Bessemer Group Inc. increased its stake in Cactus, Inc. by 36.4% in the fourth quarter, adding 127,250 shares to reach 476,821 shares worth about $21.8 million.
• Cactus reported strong quarterly results, with EPS of $0.70 beating estimates and revenue of $388.35 million topping expectations, while revenue rose 38.5% year over year.
• The company also announced a quarterly dividend of $0.14 per share, and analysts currently view the stock as a “Moderate Buy” with an average price target of $58.00.

Bessemer Group Inc. grew its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 476,821 shares of the company's stock after acquiring an additional 127,250 shares during the quarter. Bessemer Group Inc. owned 0.60% of Cactus worth $21,781,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WHD. EverSource Wealth Advisors LLC boosted its position in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock valued at $25,000 after acquiring an additional 259 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Cactus in the third quarter valued at about $33,000. Huntington National Bank boosted its position in shares of Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $43,000 after acquiring an additional 390 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after acquiring an additional 543 shares during the period. Finally, Brucke Financial Inc. bought a new stake in shares of Cactus in the third quarter valued at about $180,000. Institutional investors own 85.11% of the company's stock.

Cactus Price Performance

Shares of WHD stock opened at $56.87 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $59.25. The company has a market cap of $4.56 billion, a P/E ratio of 53.65, a P/E/G ratio of 2.17 and a beta of 1.37. The business has a fifty day simple moving average of $51.56 and a 200 day simple moving average of $49.84.

Cactus (NYSE:WHD - Get Free Report) last issued 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 firm had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The business's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, sell-side analysts forecast that Cactus, Inc. will post 2.84 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus's payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup boosted their price target on Cactus from $63.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Zacks Research downgraded Cactus from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 26th. Wall Street Zen downgraded Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cactus in a research note on Friday, March 27th. Finally, Piper Sandler assumed coverage on Cactus in a research note on Tuesday, February 24th. They issued an "overweight" rating and a $73.00 price target for the company. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Insiders Place Their Bets

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares of the company's stock, valued at approximately $904,554.30. The trade was a 42.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joel Bender sold 106,809 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the transaction, the president directly owned 27,793 shares of the company's stock, valued at approximately $1,387,426.56. The trade was a 79.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 222,206 shares of company stock valued at $11,295,784. 12.91% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.