JPMorgan Chase & Co. Acquires 52,085 Shares of Cactus, Inc. (NYSE:WHD)

JPMorgan Chase & Co. raised its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,102,984 shares of the company's stock after buying an additional 52,085 shares during the period. JPMorgan Chase & Co. owned about 3.90% of Cactus worth $185,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WHD. Quest Partners LLC acquired a new position in Cactus during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC grew its position in Cactus by 81.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,441 shares of the company's stock valued at $146,000 after purchasing an additional 1,096 shares during the period. Sanctuary Advisors LLC bought a new stake in Cactus during the 3rd quarter valued at $177,000. Nisa Investment Advisors LLC raised its holdings in Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after buying an additional 307 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Cactus in the third quarter valued at $209,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Price Performance

Shares of NYSE:WHD traded up $0.82 on Wednesday, hitting $58.36. The company's stock had a trading volume of 466,136 shares, compared to its average volume of 724,160. The company has a market capitalization of $4.64 billion, a PE ratio of 20.70, a PEG ratio of 2.98 and a beta of 1.97. 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 company has a 50-day simple moving average of $63.00 and a 200 day simple moving average of $59.78. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $70.01.

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

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, December 2nd. Cactus's dividend payout ratio is currently 18.44%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief executive officer now directly owns 36,357 shares of the company's stock, valued at $2,230,501.95. This trade represents a 47.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the sale, the director now owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,500 shares of company stock valued at $8,916,325. 16.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WHD. Bank of America raised their target price on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report on Monday, October 14th. Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a research note on Monday, November 4th. Finally, Stifel Nicolaus dropped their price target on shares of Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research report 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 company. According to data from MarketBeat, Cactus presently has a consensus rating of "Hold" and a consensus price target of $56.40.

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.