Bessemer Group Inc. Raises Stake in Cactus, Inc. (NYSE:WHD)

Bessemer Group Inc. boosted its stake in Cactus, Inc. (NYSE:WHD) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 310,711 shares of the company’s stock after purchasing an additional 10,227 shares during the quarter. Bessemer Group Inc. owned approximately 0.39% of Cactus worth $18,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Cactus in the fourth quarter valued at approximately $16,377,000. Abacus FCF Advisors LLC boosted its holdings in Cactus by 46.4% in the 4th quarter. Abacus FCF Advisors LLC now owns 43,802 shares of the company’s stock valued at $2,556,000 after purchasing an additional 13,888 shares during the period. Invesco Ltd. boosted its holdings in Cactus by 0.9% in the 4th quarter. Invesco Ltd. now owns 752,707 shares of the company’s stock valued at $43,928,000 after purchasing an additional 6,730 shares during the period. Bank of Montreal Can grew its position in shares of Cactus by 12.7% during the 4th quarter. Bank of Montreal Can now owns 8,013 shares of the company’s stock valued at $468,000 after purchasing an additional 903 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Cactus in the fourth quarter worth $19,235,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of NYSE:WHD opened at $36.02 on Friday. The company’s fifty day moving average price is $49.78 and its 200-day moving average price is $57.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. On average, equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Monday, March 3rd. Cactus’s dividend payout ratio is currently 18.84%.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their price objective on Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.00.

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.