New Age Alpha Advisors LLC Makes New Investment in Cactus, Inc. (NYSE:WHD)

New Age Alpha Advisors LLC purchased a new stake in shares of Cactus, Inc. (NYSE:WHD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,422 shares of the company’s stock, valued at approximately $3,410,000. New Age Alpha Advisors LLC owned approximately 0.07% of Cactus at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Cactus during the 4th quarter valued at $11,193,000. Congress Wealth Management LLC DE boosted its stake in shares of Cactus by 6.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 61,052 shares of the company’s stock worth $3,563,000 after acquiring an additional 3,444 shares during the period. Emerald Advisers LLC grew its position in shares of Cactus by 20.6% during the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock worth $17,935,000 after purchasing an additional 52,552 shares in the last quarter. Vanguard Group Inc. raised its stake in Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock valued at $448,247,000 after purchasing an additional 147,395 shares during the period. Finally, Bridge City Capital LLC lifted its holdings in Cactus by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 82,146 shares of the company’s stock worth $4,794,000 after purchasing an additional 723 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of Cactus stock opened at $45.73 on Friday. 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 12 month low of $43.27 and a 12 month high of $70.01. The stock has a 50 day moving average of $54.62 and a 200 day moving average of $59.38. The firm has a market cap of $3.64 billion, a PE ratio of 16.22, a PEG ratio of 5.13 and a beta of 2.05.

Cactus (NYSE:WHD) last posted its earnings results 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 business had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Cactus’s payout ratio is 18.84%.

Analyst Upgrades and Downgrades

Separately, Barclays cut their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.