GAMMA Investing LLC Purchases 88,743 Shares of Cactus, Inc. (NYSE:WHD)

GAMMA Investing LLC raised its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 3,480.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,293 shares of the company's stock after buying an additional 88,743 shares during the period. GAMMA Investing LLC owned about 0.11% of Cactus worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Oarsman Capital Inc. bought a new position in shares of Cactus in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake in shares of Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock worth $30,000 after purchasing an additional 223 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock worth $49,000 after purchasing an additional 337 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cactus in the fourth quarter worth about $76,000. Finally, AlphaQuest LLC increased its stake in shares of Cactus by 202.5% in the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock worth $100,000 after purchasing an additional 1,142 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays raised shares of Cactus from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, June 4th. Stifel Nicolaus reduced their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.50.

Cactus Price Performance

Cactus stock traded up $0.05 during mid-day trading on Friday, hitting $46.14. 599,112 shares of the company traded hands, compared to its average volume of 782,921. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 5.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a fifty day moving average price of $41.00 and a 200-day moving average price of $51.01.

Cactus (NYSE:WHD - Get Free Report) last announced its 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. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $280.32 million during the quarter, compared to analyst estimates of $272.22 million. During the same period in the previous year, the business posted $0.75 earnings per share. Cactus's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.13%. Cactus's payout ratio is 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.