Fmr LLC Sells 899,274 Shares of Cactus, Inc. (NYSE:WHD)

FMR LLC cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,956,655 shares of the company's stock after selling 899,274 shares during the period. FMR LLC owned approximately 11.25% of Cactus worth $534,444,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WHD. Quest Partners LLC bought a new position in shares of Cactus in the third quarter worth approximately $34,000. GAMMA Investing LLC grew its holdings in Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock worth $71,000 after acquiring an additional 340 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 period. NJ State Employees Deferred Compensation Plan bought a new position in shares of Cactus during the third quarter valued at about $209,000. Finally, CIBC Asset Management Inc bought a new position in shares of Cactus during the third quarter valued at about $212,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cactus

In related news, COO Steven Bender sold 100,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. The trade was a 63.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at $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 valued at $8,916,325. Corporate insiders own 17.71% of the company's stock.

Cactus Stock Up 1.4 %

Shares of NYSE:WHD traded up $0.96 during trading on Friday, hitting $68.66. The stock had a trading volume of 388,013 shares, compared to its average volume of 673,260. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a market capitalization of $5.46 billion, a PE ratio of 24.35, a PEG ratio of 3.19 and a beta of 1.95. The firm's fifty day moving average is $63.09 and its 200 day moving average is $58.02.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Monday, December 2nd. Cactus's dividend payout ratio (DPR) is presently 18.44%.

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.