Norden Group LLC Increases Holdings in Cactus, Inc. (NYSE:WHD)

Norden Group LLC lifted its position in Cactus, Inc. (NYSE:WHD) by 67.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,140 shares of the company’s stock after purchasing an additional 3,691 shares during the period. Norden Group LLC’s holdings in Cactus were worth $415,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raymond James & Associates lifted its holdings in Cactus by 12.8% during the third quarter. Raymond James & Associates now owns 145,450 shares of the company’s stock worth $7,303,000 after buying an additional 16,526 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cactus by 27.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,017 shares of the company’s stock worth $654,000 after purchasing an additional 2,772 shares in the last quarter. Strs Ohio increased its position in shares of Cactus by 5.1% during the third quarter. Strs Ohio now owns 122,500 shares of the company’s stock worth $6,150,000 after purchasing an additional 5,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cactus by 4.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,526 shares of the company’s stock worth $1,432,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Advisor Partners II LLC acquired a new position in shares of Cactus during the third quarter worth $250,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the topic of several research reports. Bank of America upped their target price on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Stifel Nicolaus cut their target price on Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, January 3rd. Finally, Benchmark downgraded Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Cactus presently has an average rating of “Hold” and a consensus price target of $55.29.

Insider Buying and Selling

In related news, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the sale, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $46.20, for a total transaction of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares in the company, valued at approximately $180,688.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares in the company, valued at $915.80. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by insiders.

Cactus Price Performance

NYSE:WHD opened at $49.64 on Wednesday. Cactus, Inc. has a 52 week low of $31.36 and a 52 week high of $57.00. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.94 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 9.44 and a beta of 1.96. The stock’s 50-day moving average price is $48.92 and its 200-day moving average price is $45.56.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, February 29th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The firm had revenue of $274.87 million for the quarter, compared to analysts’ expectations of $268.56 million. During the same period last year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, equities analysts expect that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

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.