Norden Group LLC Purchases 108,112 Shares of Cactus, Inc. (NYSE:WHD)

Norden Group LLC boosted its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 1,182.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,252 shares of the company's stock after acquiring an additional 108,112 shares during the quarter. Norden Group LLC owned 0.15% of Cactus worth $5,873,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its holdings in shares of Cactus by 17.8% during the third quarter. Envestnet Asset Management Inc. now owns 82,178 shares of the company's stock valued at $4,126,000 after purchasing an additional 12,438 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Cactus by 0.4% in the 3rd quarter. Northern Trust Corp now owns 696,317 shares of the company's stock worth $34,962,000 after buying an additional 2,553 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Cactus by 13.8% in the third quarter. Natixis Advisors L.P. now owns 15,122 shares of the company's stock worth $759,000 after acquiring an additional 1,829 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Cactus by 13.5% in the third quarter. Tower Research Capital LLC TRC now owns 8,979 shares of the company's stock worth $451,000 after acquiring an additional 1,071 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Cactus by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 2,378,095 shares of the company's stock valued at $119,404,000 after acquiring an additional 108,905 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Johnson Rice downgraded Cactus from a "buy" rating to an "accumulate" rating in a research note on Friday, May 31st. Barclays upped their target price on shares of Cactus from $55.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, May 6th. Benchmark reiterated a "hold" rating on shares of Cactus in a research note on Monday, May 6th. Finally, Bank of America upped their price objective on Cactus from $40.00 to $43.00 and gave the stock an "underperform" rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.14.

Insider Activity at Cactus

In related news, President Joel Bender sold 201,585 shares of the company's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the sale, the president now owns 555,001 shares of the company's stock, valued at $28,876,702.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cactus news, CEO Scott Bender sold 39,957 shares of the business's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the completion of the transaction, the chief executive officer now owns 400,234 shares in the company, valued at $20,415,936.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joel Bender sold 201,585 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the sale, the president now owns 555,001 shares in the company, valued at $28,876,702.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,059 shares of company stock valued at $30,948,949. 16.84% of the stock is owned by corporate insiders.

Cactus Price Performance

Shares of Cactus stock traded down $0.77 during trading hours on Friday, hitting $51.14. The company's stock had a trading volume of 430,026 shares, compared to its average volume of 779,131. The company has a market cap of $4.07 billion, a PE ratio of 20.37, a PEG ratio of 1.63 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24. The business has a 50 day moving average price of $50.95 and a two-hundred day moving average price of $47.65. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $57.00.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million for the quarter, compared to analysts' expectations of $270.70 million. During the same period in the previous year, the firm earned $0.64 EPS. The firm's revenue was up 20.0% compared to the same quarter last year. Analysts expect that Cactus, Inc. will post 2.94 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. Cactus's dividend payout ratio is currently 19.12%.

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.