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

GAMMA Investing LLC grew its stake in shares of Cactus, Inc. (NYSE:WHD) by 3,480.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,293 shares of the company’s stock after buying an additional 88,743 shares during the period. GAMMA Investing LLC owned 0.11% of Cactus worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Emerald Advisers LLC raised its position in shares of Cactus by 20.6% during the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock valued at $17,935,000 after buying an additional 52,552 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Cactus by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $20,853,000 after acquiring an additional 15,035 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cactus by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after acquiring an additional 13,669 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cactus in the 4th quarter valued at $16,377,000. Finally, Axiom Investors LLC DE increased its holdings in Cactus by 26.0% in the 4th quarter. Axiom Investors LLC DE now owns 149,317 shares of the company’s stock valued at $8,714,000 after acquiring an additional 30,851 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Cactus Stock Performance

Cactus stock opened at $46.93 on Wednesday. The company’s 50-day moving average price is $40.41 and its 200-day moving average price is $51.47. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.75 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 5.13 and a beta of 1.49.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $280.32 million for the quarter, compared to analysts’ expectations of $272.22 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, June 2nd. Cactus’s dividend payout ratio is currently 18.51%.

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.