Cactus, Inc. (NYSE:WHD) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC lifted its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 96.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,282 shares of the company's stock after acquiring an additional 31,564 shares during the period. VELA Investment Management LLC owned 0.08% of Cactus worth $2,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its position in shares of Cactus by 34.6% during the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock worth $90,841,000 after acquiring an additional 400,452 shares during the period. Federated Hermes Inc. purchased a new stake in Cactus during the 4th quarter worth about $19,235,000. Raymond James Financial Inc. purchased a new stake in Cactus during the 4th quarter worth about $16,377,000. Point72 Asset Management L.P. purchased a new stake in Cactus during the 4th quarter worth about $14,285,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock worth $16,473,000 after buying an additional 234,191 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

Shares of WHD stock traded up $0.01 during midday trading on Friday, hitting $45.27. The company had a trading volume of 202,950 shares, compared to its average volume of 703,868. The company's 50 day simple moving average is $43.26 and its 200 day simple moving average is $48.95. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $272.22 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a $0.13 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.52 annualized dividend and a yield of 1.15%. Cactus's dividend payout ratio (DPR) is presently 18.51%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Barclays dropped their target price on Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, June 20th. Finally, Stifel Nicolaus dropped their price objective on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.33.

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.