Cactus (NYSE:WHD) Trading Down 3.7% - Here's Why

Cactus, Inc. (NYSE:WHD - Get Free Report)'s share price was down 3.7% during mid-day trading on Friday . The company traded as low as $63.71 and last traded at $63.71. Approximately 24,357 shares traded hands during trading, a decline of 97% from the average daily volume of 726,828 shares. The stock had previously closed at $66.19.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research note on Monday, October 14th. Barclays downgraded shares of 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. Finally, Stifel Nicolaus decreased their target price on shares of Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. One investment 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 company currently has a consensus rating of "Hold" and an average price target of $56.40.

Cactus Trading Down 3.4 %

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 firm's 50-day moving average is $63.67 and its 200 day moving average is $58.58. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 3.12 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 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 for the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company's revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. On average, equities analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. 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%.

Insiders Place Their Bets

In other Cactus news, COO Steven Bender sold 100,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus 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. The trade was a 47.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP bought a new position in shares of Cactus in the 3rd quarter worth about $9,501,000. Rhumbline Advisers lifted its holdings in shares of Cactus by 69.7% during the second quarter. Rhumbline Advisers now owns 206,982 shares of the company's stock valued at $10,916,000 after purchasing an additional 84,984 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Cactus by 160.8% in the 2nd quarter. TD Asset Management Inc now owns 38,600 shares of the company's stock worth $2,036,000 after purchasing an additional 23,800 shares in the last quarter. Amalgamated Bank grew its stake in shares of Cactus by 800.4% in the 2nd quarter. Amalgamated Bank now owns 20,071 shares of the company's stock worth $1,059,000 after buying an additional 17,842 shares during the last quarter. Finally, Citigroup Inc. increased its position in Cactus by 81.2% during the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company's stock valued at $5,338,000 after buying an additional 40,099 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

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.