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

VELA Investment Management LLC acquired a new position in Cactus, Inc. (NYSE:WHD) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 32,718 shares of the company’s stock, valued at approximately $1,909,000.

Several other institutional investors have also recently made changes to their positions in WHD. Weiss Asset Management LP bought a new position in shares of Cactus in the third quarter worth about $13,647,000. Bridgewater Associates LP bought a new position in shares of Cactus in the third quarter worth about $9,501,000. Assenagon Asset Management S.A. raised 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 buying an additional 127,614 shares during the period. Geode Capital Management LLC raised 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 buying an additional 106,819 shares during the period. Finally, Barclays PLC raised its stake in Cactus by 429.4% during the 3rd quarter. Barclays PLC now owns 123,562 shares of the company’s stock valued at $7,373,000 after purchasing an additional 100,223 shares during the period. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 8.5 %

NYSE WHD opened at $52.36 on Friday. The stock’s 50 day moving average is $59.91 and its 200 day moving average is $61.09. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12 month low of $44.57 and a 12 month high of $70.01. The stock has a market cap of $4.17 billion, a PE ratio of 18.57, a P/E/G ratio of 5.13 and a beta of 1.97.

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

Cactus Dividend Announcement

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

Wall Street Analyst Weigh In

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