AMG National Trust Bank Makes New Investment in Cactus, Inc. $WHD

AMG National Trust Bank acquired a new stake in Cactus, Inc. (NYSE:WHD) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 43,055 shares of the company’s stock, valued at approximately $2,040,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Paradice Investment Management LLC increased its stake in shares of Cactus by 16.1% in the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock valued at $30,877,000 after buying an additional 93,714 shares during the period. VELA Investment Management LLC lifted its stake in shares of Cactus by 24.2% during the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock valued at $6,671,000 after acquiring an additional 28,493 shares during the period. UBS Group AG lifted its stake in shares of Cactus by 81.8% during the fourth quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after acquiring an additional 171,223 shares during the period. Vest Financial LLC boosted its holdings in Cactus by 24.7% in the fourth quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock valued at $6,147,000 after acquiring an additional 26,669 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Cactus in the fourth quarter valued at about $2,053,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Down 1.6%

Shares of NYSE:WHD opened at $52.61 on Wednesday. The company has a 50 day moving average price of $56.19 and a two-hundred day moving average price of $53.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. The company has a market capitalization of $4.22 billion, a PE ratio of 49.63, a PEG ratio of 2.10 and a beta of 1.38. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $64.30.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the previous year, the business earned $0.73 EPS. The firm’s revenue was up 38.5% on a year-over-year basis. Analysts forecast that Cactus, Inc. will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

WHD has been the subject of several recent research reports. Barclays boosted their price objective on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Piper Sandler raised their price objective on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.60.

Insider Transactions at Cactus

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. This represents a 25.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 12.91% of the company’s stock.

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.