Intech Investment Management LLC Invests $987,000 in Cactus, Inc. (NYSE:WHD)

Intech Investment Management LLC acquired a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,549 shares of the company's stock, valued at approximately $987,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WHD. Quest Partners LLC acquired a new position in Cactus during the third quarter worth $34,000. GAMMA Investing LLC raised its position in Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock valued at $71,000 after purchasing an additional 340 shares during the period. Nisa Investment Advisors LLC raised its position in 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 purchasing an additional 307 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in Cactus in the third quarter valued at $209,000. Finally, CIBC Asset Management Inc purchased a new stake in Cactus in the third quarter valued at $212,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Trading Down 0.4 %

Shares of WHD stock traded down $0.24 on Thursday, hitting $67.70. The stock had a trading volume of 327,059 shares, compared to its average volume of 742,497. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a market capitalization of $5.39 billion, a P/E ratio of 24.01, a P/E/G ratio of 3.21 and a beta of 1.95. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $70.01. The company's 50 day moving average price is $62.88 and its 200-day moving average price is $57.83.

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

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.77%. Cactus's payout ratio is 18.44%.

Analysts Set New Price Targets

WHD has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Bank of America lifted their target price on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price on the stock. in a research 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $56.40.

Insider Buying and Selling

In related 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 value of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares of the company's stock, valued at $2,230,501.95. This represents a 47.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 57,567 shares of the company's stock, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock valued at $8,916,325 in the last three months. 17.72% of the stock is owned by corporate insiders.

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.