Entropy Technologies LP Invests $578,000 in Cactus, Inc. (NYSE:WHD)

Entropy Technologies LP acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,903 shares of the company's stock, valued at approximately $578,000.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Cactus in the 3rd quarter valued at about $34,000. Versant Capital Management Inc grew its stake in Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock worth $34,000 after buying an additional 359 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Cactus during the 3rd quarter worth approximately $177,000. KBC Group NV grew its stake in Cactus by 54.2% during the 4th quarter. KBC Group NV now owns 3,013 shares of the company's stock worth $176,000 after buying an additional 1,059 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after buying an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Insider Transactions at Cactus

In related news, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This represents a 29.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.72% of the company's stock.

Analyst Ratings Changes

Separately, Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. One investment 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 data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $56.40.

Cactus Trading Down 0.2 %

Cactus stock traded down $0.12 during trading on Friday, hitting $59.99. The company's stock had a trading volume of 581,189 shares, compared to its average volume of 448,905. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 5.14 and a beta of 1.97. The stock's fifty day moving average is $60.60 and its 200 day moving average is $61.19. Cactus, Inc. has a 1-year low of $43.24 and a 1-year high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus's payout ratio is 18.44%.

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.