BNP Paribas Arbitrage SA Purchases 30,342 Shares of Cactus, Inc. (NYSE:WHD)

BNP Paribas Arbitrage SA raised its position in Cactus, Inc. (NYSE:WHD – Get Rating) by 492.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,505 shares of the company’s stock after purchasing an additional 30,342 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cactus were worth $1,470,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WHD. JPMorgan Chase & Co. boosted its holdings in Cactus by 788.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,087,931 shares of the company’s stock valued at $61,729,000 after purchasing an additional 965,458 shares during the period. Invesco Ltd. raised its position in Cactus by 510.9% in the 1st quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock worth $49,075,000 after purchasing an additional 723,339 shares during the period. TimesSquare Capital Management LLC purchased a new position in Cactus in the 2nd quarter worth $25,613,000. Wellington Management Group LLP raised its position in Cactus by 53.5% in the 1st quarter. Wellington Management Group LLP now owns 1,352,737 shares of the company’s stock worth $76,755,000 after purchasing an additional 471,418 shares during the period. Finally, Boston Trust Walden Corp raised its position in Cactus by 38.1% in the 2nd quarter. Boston Trust Walden Corp now owns 1,427,349 shares of the company’s stock worth $57,479,000 after purchasing an additional 393,495 shares during the period. 83.96% of the stock is owned by institutional investors.

Cactus Price Performance

Shares of NYSE WHD opened at $52.39 on Tuesday. Cactus, Inc. has a 1 year low of $34.70 and a 1 year high of $64.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.74 and a quick ratio of 3.51. The company’s 50-day moving average is $49.41 and its 200 day moving average is $44.91. The stock has a market capitalization of $3.98 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.53 and a beta of 1.94.

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Cactus (NYSE:WHD – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Cactus had a net margin of 14.94% and a return on equity of 14.60%. The company had revenue of $184.50 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. Cactus’s quarterly revenue was up 59.9% on a year-over-year basis. On average, sell-side analysts expect that Cactus, Inc. will post 1.78 earnings per share for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 28th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 25th. Cactus’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of brokerages recently commented on WHD. Bank of America lifted their target price on shares of Cactus from $45.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 8th. Citigroup boosted their price objective on shares of Cactus from $47.00 to $58.00 in a research report on Sunday, November 13th. Morgan Stanley boosted their price objective on shares of Cactus from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, September 26th. Finally, Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $52.00 to $48.00 in a research report on Thursday, October 6th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.17.

About Cactus

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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company’s principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.