Kornitzer Capital Management Inc. KS Sells 19,725 Shares of Cactus, Inc. (NYSE:WHD)

Kornitzer Capital Management Inc. KS lowered its position in Cactus, Inc. (NYSE:WHD) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,555 shares of the company’s stock after selling 19,725 shares during the period. Kornitzer Capital Management Inc. KS owned 0.28% of Cactus worth $10,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in shares of Cactus during the 4th quarter worth about $28,000. Belpointe Asset Management LLC bought a new stake in Cactus during the first quarter worth approximately $27,000. Public Employees Retirement System of Ohio grew its holdings in Cactus by 59.9% during the third quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock valued at $26,000 after purchasing an additional 254 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Cactus in the third quarter valued at approximately $36,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Cactus by 886.7% in the first quarter. NewEdge Advisors LLC now owns 740 shares of the company’s stock worth $31,000 after buying an additional 665 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of Cactus stock traded up $1.41 during mid-day trading on Friday, reaching $50.58. 391,286 shares of the stock were exchanged, compared to its average volume of 466,442. Cactus, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $57.00. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 8.84 and a beta of 1.96. The firm has a 50-day simple moving average of $47.95 and a 200 day simple moving average of $45.48. The company has a current ratio of 3.17, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its earnings results on Thursday, February 29th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $274.87 million for the quarter, compared to analysts’ expectations of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, sell-side analysts predict that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a $0.12 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. Cactus’s dividend payout ratio (DPR) is currently 18.82%.

Insider Transactions at Cactus

In related news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares in the company, valued at $180,688.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Scott Bender sold 78,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares of the company’s stock, valued at approximately $915.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the transaction, the executive vice president now owns 3,911 shares in the company, valued at $180,688.20. The disclosure for this sale can be found here. 17.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WHD has been the topic of a number of research analyst reports. Bank of America raised their target price on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Benchmark lowered Cactus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus decreased their target price on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.29.

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.