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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oarsman Capital Inc. purchased a new stake in shares of Cactus during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake in Cactus by 74.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock valued at $30,000 after buying an additional 223 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Cactus by 66.9% in the 4th 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 Cactus in the 4th quarter worth approximately $76,000. Finally, AlphaQuest LLC lifted its stake in Cactus by 202.5% in the 4th 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 and hedge funds.

Cactus Stock Performance

Shares of NYSE:WHD traded up $2.22 on Tuesday, reaching $46.11. The company's stock had a trading volume of 442,737 shares, compared to its average volume of 703,103. The stock's 50-day moving average is $43.50 and its two-hundred day moving average is $48.79. 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 capitalization of $3.68 billion, a P/E ratio of 16.41 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (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 business had revenue of $280.32 million for 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. The business's revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 annualized dividend and a yield of 1.13%. Cactus's payout ratio is currently 18.51%.

Analysts Set New Price Targets

WHD has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target 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 decreased their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, June 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $52.33.

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.