Bridgewater Associates LP Makes New Investment in Cactus, Inc. (NYSE:WHD)

Bridgewater Associates LP bought a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 159,225 shares of the company's stock, valued at approximately $9,501,000. Bridgewater Associates LP owned about 0.20% of Cactus as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Cactus in the third quarter valued at approximately $34,000. GAMMA Investing LLC raised its position in shares of Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock valued at $71,000 after buying an additional 340 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock valued at $188,000 after acquiring an additional 307 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in Cactus in the third quarter worth approximately $209,000. Finally, CIBC Asset Management Inc acquired a new stake in Cactus during the third quarter worth $212,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Barclays cut Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. Finally, Bank of America lifted their price objective on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cactus presently has an average rating of "Hold" and an average price target of $56.40.

Insider Buying and Selling

In other news, Director Bruce M. Rothstein sold 5,000 shares of Cactus stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the sale, the director now owns 12,177 shares in the company, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares of the company's stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,500 shares of company stock worth $8,916,325. Corporate insiders own 17.72% of the company's stock.

Cactus Stock Up 1.4 %

Shares of Cactus stock traded up $0.96 during trading hours on Friday, reaching $68.66. 388,011 shares of the company were exchanged, compared to its average volume of 732,365. The firm has a market cap of $5.46 billion, a PE ratio of 24.01, a PEG ratio of 3.19 and a beta of 1.95. The stock's fifty day moving average is $62.98 and its 200 day moving average is $57.90. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same quarter last year, the company earned $0.80 EPS. Cactus's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.76%. Cactus's dividend payout ratio (DPR) is currently 18.44%.

Cactus 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.