Twinbeech Capital LP Invests $3.42 Million in Cactus, Inc. (NYSE:WHD)

Twinbeech Capital LP purchased a new position in shares of Cactus, Inc. (NYSE:WHD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 58,561 shares of the company’s stock, valued at approximately $3,418,000. Twinbeech Capital LP owned approximately 0.07% of Cactus at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WHD. Emerald Advisers LLC boosted its position in shares of Cactus by 20.6% in the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock worth $17,935,000 after acquiring an additional 52,552 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Cactus by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock worth $20,853,000 after acquiring an additional 15,035 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cactus by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock worth $40,939,000 after acquiring an additional 13,669 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cactus in the fourth quarter worth approximately $16,377,000. Finally, Axiom Investors LLC DE boosted its position in shares of Cactus by 26.0% in the fourth quarter. Axiom Investors LLC DE now owns 149,317 shares of the company’s stock worth $8,714,000 after acquiring an additional 30,851 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Trading Down 1.1%

Shares of WHD stock opened at $42.49 on Wednesday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The firm’s 50 day moving average price is $41.31 and its two-hundred day moving average price is $53.88.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.32 million for the quarter, compared to analysts’ expectations of $272.22 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. Cactus’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. On average, analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.22%. Cactus’s dividend payout ratio (DPR) is 18.51%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WHD. Barclays decreased their target price on shares of Cactus from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Cactus from $54.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their target price on shares of Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.33.

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.