KLP Kapitalforvaltning AS Purchases New Stake in Cactus, Inc. (NYSE:WHD)

KLP Kapitalforvaltning AS bought a new position in shares of Cactus, Inc. (NYSE:WHD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,500 shares of the company’s stock, valued at approximately $788,000.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Cactus in the third quarter worth $34,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cactus by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company’s stock valued at $41,042,000 after buying an additional 53,318 shares during the period. Citigroup Inc. grew its position in shares of Cactus by 81.2% during the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after buying an additional 40,099 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Cactus by 0.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company’s stock valued at $2,182,000 after buying an additional 301 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Cactus by 24.2% during the third quarter. Holocene Advisors LP now owns 74,106 shares of the company’s stock worth $4,422,000 after acquiring an additional 14,448 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Performance

WHD opened at $45.79 on Tuesday. Cactus, Inc. has a twelve month low of $43.27 and a twelve month high of $70.01. The stock has a market cap of $3.64 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05. The business’s 50 day moving average is $54.27 and its 200-day moving average is $59.38. 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 (NYSE:WHD) last released its earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). The company had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. Cactus’s dividend payout ratio (DPR) is 18.84%.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their target price on Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One 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’s stock. According to MarketBeat, Cactus has an average rating of “Hold” and a consensus target price of $55.00.

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.