VELA Investment Management LLC Has $6.67 Million Stock Position in Cactus, Inc. $WHD

VELA Investment Management LLC increased its position in shares of Cactus, Inc. (NYSE:WHD) by 24.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 146,042 shares of the company’s stock after purchasing an additional 28,493 shares during the period. Cactus comprises about 1.6% of VELA Investment Management LLC’s portfolio, making the stock its 11th largest holding. VELA Investment Management LLC’s holdings in Cactus were worth $6,671,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Cactus by 52.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares in the last quarter. State Street Corp increased its holdings in Cactus by 0.7% during the 2nd quarter. State Street Corp now owns 2,774,526 shares of the company’s stock worth $121,302,000 after purchasing an additional 18,104 shares in the last quarter. Capital International Investors increased its holdings in Cactus by 2.9% during the 3rd quarter. Capital International Investors now owns 1,845,521 shares of the company’s stock worth $72,843,000 after purchasing an additional 52,139 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cactus by 7.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,717,598 shares of the company’s stock worth $67,797,000 after purchasing an additional 123,459 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Cactus by 16.1% during the 3rd quarter. First Trust Advisors LP now owns 1,566,884 shares of the company’s stock worth $61,845,000 after purchasing an additional 217,016 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cactus news, President Joel Bender sold 106,809 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the completion of the transaction, the president directly owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 200,000 shares of company stock worth $10,039,080 over the last three months. 12.91% of the stock is currently owned by corporate insiders.

Cactus Price Performance

Shares of NYSE WHD opened at $54.79 on Friday. The stock has a fifty day simple moving average of $51.28 and a two-hundred day simple moving average of $48.64. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $59.25. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million during the quarter, compared to analyst estimates of $250.60 million. During the same period in the prior year, the company earned $0.71 earnings per share. Cactus’s revenue was down 4.0% compared to the same quarter last year. Analysts anticipate that Cactus, Inc. will post 2.53 earnings per share for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. Cactus’s dividend payout ratio is 23.33%.

Analysts Set New Price Targets

A number of analysts have commented on WHD shares. Piper Sandler started coverage on Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective for the company. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Citigroup boosted their price objective on Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Finally, Barclays boosted their price objective on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Cactus 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.