UBS Group AG Grows Position in Cactus, Inc. $WHD

UBS Group AG increased its position in shares of Cactus, Inc. (NYSE:WHD) by 81.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 380,513 shares of the company’s stock after buying an additional 171,223 shares during the period. UBS Group AG’s holdings in Cactus were worth $17,382,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WHD. Advisors Asset Management Inc. increased its stake in shares of Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares during the period. AQR Capital Management LLC boosted its holdings in Cactus by 101.1% in the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cactus by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares in the last quarter. United Services Automobile Association acquired a new position in Cactus in the first quarter valued at approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cactus by 26.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after purchasing an additional 46,835 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WHD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Piper Sandler started coverage on Cactus in a report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price target for the company. Finally, Citigroup upped their price target on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.00.

Cactus Price Performance

WHD stock opened at $57.28 on Wednesday. The company has a market capitalization of $4.57 billion, a P/E ratio of 54.04, a PEG ratio of 2.16 and a beta of 1.37. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $59.25. The business has a 50 day simple moving average of $51.21 and a 200-day simple moving average of $49.53. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, equities analysts anticipate that Cactus, Inc. will post 2.84 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus’s dividend payout ratio is presently 52.83%.

Insider Buying and Selling

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 value of $5,331,905.28. Following the completion of the transaction, the president owned 27,793 shares in the company, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 200,000 shares of company stock worth $10,039,080. 12.91% of the stock is currently owned by corporate insiders.

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.