VELA Investment Management LLC Invests $1.91 Million in Cactus, Inc. (NYSE:WHD)

VELA Investment Management LLC bought a new position in Cactus, Inc. (NYSE:WHD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,718 shares of the company’s stock, valued at approximately $1,909,000.

A number of other institutional investors have also recently modified their holdings of WHD. Weiss Asset Management LP purchased a new stake in shares of Cactus in the third quarter worth $13,647,000. Bridgewater Associates LP purchased a new stake in shares of Cactus in the third quarter worth $9,501,000. Assenagon Asset Management S.A. grew its stake in shares of Cactus by 394.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock worth $9,338,000 after acquiring an additional 127,614 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cactus by 6.5% in the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock worth $104,934,000 after acquiring an additional 106,819 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Cactus by 429.4% in the third quarter. Barclays PLC now owns 123,562 shares of the company’s stock worth $7,373,000 after acquiring an additional 100,223 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Down 8.5 %

Cactus stock opened at $52.36 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a one year low of $44.57 and a one year high of $70.01. The stock has a market capitalization of $4.17 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. The business’s fifty day moving average is $59.91 and its 200 day moving average is $61.09.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. On average, sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio is 18.44%.

Analyst Ratings Changes

Separately, Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.40.

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.