Norges Bank Makes New $11.19 Million Investment in Cactus, Inc. (NYSE:WHD)

Norges Bank acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 191,799 shares of the company's stock, valued at approximately $11,193,000. Norges Bank owned 0.24% of Cactus at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WHD. The Manufacturers Life Insurance Company grew its position in Cactus by 0.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company's stock valued at $2,182,000 after acquiring an additional 301 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Cactus in the third quarter valued at approximately $434,000. State Street Corp increased its stake in Cactus by 3.0% during the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company's stock worth $164,436,000 after buying an additional 81,149 shares during the period. XTX Topco Ltd acquired a new stake in Cactus during the 3rd quarter worth approximately $596,000. Finally, Barclays PLC boosted its position in Cactus by 429.4% in the 3rd quarter. Barclays PLC now owns 123,562 shares of the company's stock valued at $7,373,000 after buying an additional 100,223 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Analysts Set New Price Targets

Separately, Barclays cut their price objective on Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Cactus currently has an average rating of "Hold" and an average target price of $55.00.

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Cactus Stock Up 0.3 %

NYSE:WHD traded up $0.10 during mid-day trading on Friday, hitting $36.11. The stock had a trading volume of 1,307,099 shares, compared to its average volume of 762,841. 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, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a market capitalization of $2.87 billion, a PE ratio of 12.80, a PEG ratio of 5.13 and a beta of 1.74. The stock has a 50-day simple moving average of $49.29 and a two-hundred day simple moving average of $57.73.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.01). The firm had revenue of $272.12 million during 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, equities research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were given a dividend of $0.13 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.44%. Cactus's dividend payout ratio is currently 18.84%.

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.