Kornitzer Capital Management Inc. KS Reduces Holdings in Cactus, Inc. (NYSE:WHD)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,610 shares of the company's stock after selling 40,945 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.23% of Cactus worth $10,717,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Cactus by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 248,369 shares of the company's stock worth $12,441,000 after buying an additional 16,662 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Cactus by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company's stock worth $10,176,000 after buying an additional 8,833 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cactus by 13.2% in the 1st quarter. Sei Investments Co. now owns 345,228 shares of the company's stock worth $17,291,000 after buying an additional 40,228 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $1,423,000. Finally, Vanguard Group Inc. boosted its position in shares of Cactus by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company's stock worth $329,182,000 after buying an additional 53,142 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WHD has been the topic of several recent research reports. Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective on the stock. in a research report on Monday. Stifel Nicolaus reduced their target price 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 upped their target price on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report on Monday, October 14th. Finally, Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.40.

Insider Activity

In other news, CEO Stephen Tadlock sold 33,500 shares of the company's 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 owns 36,357 shares of the company's stock, valued at $2,230,501.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 17.72% of the company's stock.

Cactus Trading Up 1.6 %

Shares of NYSE WHD traded up $1.06 on Friday, reaching $67.22. 763,298 shares of the company traded hands, compared to its average volume of 739,930. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $69.77. The company has a 50 day moving average of $60.12 and a 200 day moving average of $56.25. 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 stock has a market capitalization of $5.35 billion, a PE ratio of 23.46, a P/E/G ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating 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 company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the prior year, the company posted $0.80 EPS. The company's quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.

Cactus Announces Dividend

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

Cactus Company Profile

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.