Chartwell Investment Partners LLC lowered its position in Cactus, Inc. (NYSE:WHD - Free Report) by 32.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 155,082 shares of the company's stock after selling 74,451 shares during the period. Chartwell Investment Partners LLC owned 0.19% of Cactus worth $9,254,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 340 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cactus during the first quarter worth about $115,000. Covestor Ltd raised its holdings in shares of Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company's stock worth $126,000 after acquiring an additional 1,795 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Cactus by 10.8% in the 3rd 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 in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in Cactus during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 85.11% of the company's stock.
Insider Buying and Selling at Cactus
In other news, CEO Stephen Tadlock sold 33,500 shares of the company's stock in a transaction dated Monday, November 4th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Steven Bender sold 100,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction that occurred on 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 owns 36,357 shares of the company's stock, valued at approximately $2,230,501.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.72% of the company's stock.
Wall Street Analyst Weigh In
WHD has been the subject of a number of analyst reports. Piper Sandler lowered their price target on Cactus from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. Stifel Nicolaus cut their price target on shares of Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Bank of America increased 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. Finally, Barclays lowered Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.40.
Check Out Our Latest Stock Report on Cactus
Cactus Stock Performance
Cactus stock traded up $1.06 during trading on Monday, hitting $68.28. The stock had a trading volume of 371,431 shares, compared to its average volume of 738,239. The stock's 50 day moving average is $60.28 and its two-hundred day moving average is $56.41. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $69.77. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.95. 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 (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The company 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 firm'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 EPS. As a group, analysts predict that Cactus, Inc. will post 3.07 EPS for the current year.
Cactus Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.76%. Cactus's dividend payout ratio is 18.44%.
About Cactus
(
Free Report)
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.
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