SG Americas Securities LLC Purchases Shares of 17,691 Cactus, Inc. $WHD

SG Americas Securities LLC purchased a new stake in shares of Cactus, Inc. (NYSE:WHD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,691 shares of the company’s stock, valued at approximately $698,000.

Other institutional investors have also recently bought and sold shares of the company. VELA Investment Management LLC raised its stake in Cactus by 79.6% during the 2nd quarter. VELA Investment Management LLC now owns 115,440 shares of the company’s stock valued at $5,047,000 after purchasing an additional 51,158 shares during the last quarter. AGF Management Ltd. acquired a new position in Cactus in the 2nd quarter valued at approximately $672,000. Hunter Perkins Capital Management LLC acquired a new position in Cactus in the 2nd quarter valued at approximately $462,000. Congress Asset Management Co. lifted its position in shares of Cactus by 8.9% in the 2nd quarter. Congress Asset Management Co. now owns 351,043 shares of the company’s stock worth $15,348,000 after acquiring an additional 28,576 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Cactus by 30.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 241,828 shares of the company’s stock worth $10,899,000 after purchasing an additional 55,968 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded Cactus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Barclays boosted their price target on shares of Cactus from $51.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Thursday, December 11th. Stifel Nicolaus lifted their target price on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Bank of America raised shares of Cactus from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.20.

Cactus Stock Up 6.3%

Shares of Cactus stock opened at $56.25 on Thursday. The business’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $42.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 5.28. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.23. The firm has a market cap of $4.49 billion, a PE ratio of 22.41, a P/E/G ratio of 5.37 and a beta of 1.26.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $263.95 million during the quarter, compared to the consensus estimate of $253.89 million. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 1st were given a dividend of $0.14 per share. The ex-dividend date was Monday, December 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus’s payout ratio is currently 22.31%.

Cactus Company 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.