Loomis Sayles & Co. L P Cuts Position in Cactus, Inc. (NYSE:WHD)

Loomis Sayles & Co. L P reduced its position in Cactus, Inc. (NYSE:WHD - Free Report) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 972,654 shares of the company's stock after selling 22,457 shares during the quarter. Loomis Sayles & Co. L P owned about 1.22% of Cactus worth $58,039,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its position in shares of Cactus by 10.0% in the third quarter. Fisher Asset Management LLC now owns 330,444 shares of the company's stock worth $19,718,000 after buying an additional 30,014 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Cactus by 81.2% in the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company's stock valued at $5,338,000 after acquiring an additional 40,099 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cactus by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company's stock valued at $41,042,000 after acquiring an additional 53,318 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Cactus during the 3rd quarter valued at about $987,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cactus in the third quarter worth approximately $1,485,000. 85.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WHD. 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 report on Monday, November 4th. Bank of America lifted their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a report on Monday, October 14th. Finally, 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 note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Cactus presently has a consensus rating of "Hold" and an average price target of $56.40.

Cactus Trading Up 0.7 %

Shares of NYSE:WHD traded up $0.49 on Monday, reaching $69.48. 819,569 shares of the company traded hands, compared to its average volume of 737,048. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01. 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 business's 50-day simple moving average is $62.39 and its 200 day simple moving average is $57.51. The stock has a market capitalization of $5.53 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 3.26 and a beta of 1.95.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 16.57% and a return on equity of 20.24%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. As a group, equities analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.75%. Cactus's dividend payout ratio is presently 18.44%.

Insider Buying and Selling

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, the director now owns 12,177 shares in the company, valued at approximately $794,183.94. This represents a 29.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven Bender sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company's stock, valued at $3,762,003.45. This represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock valued at $8,916,325 over the last quarter. 16.84% of the stock is owned by company 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.