BNP Paribas Financial Markets Sells 76,738 Shares of Cactus, Inc. (NYSE:WHD)

BNP Paribas Financial Markets lowered its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 68.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,194 shares of the company's stock after selling 76,738 shares during the quarter. BNP Paribas Financial Markets' holdings in Cactus were worth $2,100,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Cactus during the second quarter valued at approximately $122,623,000. Boston Trust Walden Corp grew its position in shares of Cactus by 1.3% in the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company's stock valued at $103,119,000 after purchasing an additional 25,839 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cactus by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company's stock worth $60,811,000 after purchasing an additional 38,983 shares during the period. Victory Capital Management Inc. lifted its holdings in Cactus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 761,745 shares of the company's stock worth $45,453,000 after purchasing an additional 28,663 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cactus by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company's stock valued at $41,042,000 after buying an additional 53,318 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Insider Transactions at Cactus

In other Cactus news, COO Steven Bender sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the completion of the sale, the chief operating officer now owns 57,567 shares of the company's stock, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, the director now owns 12,177 shares of the company's stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,500 shares of company stock worth $8,916,325. Insiders own 17.72% of the company's stock.

Cactus Price Performance

Cactus stock traded down $2.23 during midday trading on Friday, reaching $63.96. The company's stock had a trading volume of 495,184 shares, compared to its average volume of 615,758. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.09 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.12 and a beta of 1.97. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01. The business has a 50-day moving average price of $63.67 and a 200-day moving average price of $58.53.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analysts' expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Monday, December 2nd. Cactus's payout ratio is 18.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a research report on Monday, November 4th. Finally, Bank of America raised their price target on Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a research report on Monday, October 14th. One 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. According to MarketBeat, Cactus currently has a consensus rating of "Hold" and an average price target of $56.40.

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.