Wellington Management Group LLP Reduces Position in Cactus, Inc. (NYSE:WHD)

Wellington Management Group LLP decreased its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,655,410 shares of the company's stock after selling 87,386 shares during the period. Wellington Management Group LLP owned about 2.08% of Cactus worth $98,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new stake in shares of Cactus during the 2nd quarter valued at about $122,623,000. Makaira Partners LLC grew its position in Cactus by 399.6% during the second quarter. Makaira Partners LLC now owns 499,581 shares of the company's stock valued at $26,348,000 after buying an additional 399,581 shares during the period. Principal Financial Group Inc. increased its holdings in Cactus by 3,604.5% during the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company's stock valued at $17,221,000 after buying an additional 317,704 shares during the last quarter. Barlow Wealth Partners Inc. bought a new position in Cactus in the second quarter worth approximately $14,553,000. Finally, Weiss Asset Management LP purchased a new position in shares of Cactus during the 3rd quarter worth $13,647,000. Hedge funds and other institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

WHD has been the subject of several analyst reports. Barclays lowered Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective for the company. in a research note on Monday, November 4th. Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a research note on Monday, October 14th. Finally, 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 note on Friday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.40.

Insider Transactions at Cactus

In related news, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value 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. The trade was a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 in the last ninety days. Corporate insiders own 16.84% of the company's stock.

Cactus Price Performance

Shares of Cactus stock traded up $0.22 on Tuesday, hitting $64.39. 920,781 shares of the company traded hands, compared to its average volume of 728,778. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The business has a 50-day simple moving average of $63.76 and a 200 day simple moving average of $58.73. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01. The stock has a market capitalization of $5.12 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 3.02 and a beta of 1.97.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. During the same quarter in the previous year, the company earned $0.80 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

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

About Cactus

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.