Van ECK Associates Corp Sells 223,743 Shares of Cactus, Inc. (NYSE:WHD)

Van ECK Associates Corp decreased its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,013,940 shares of the company's stock after selling 223,743 shares during the quarter. Van ECK Associates Corp owned about 1.27% of Cactus worth $59,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Cactus by 41.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company's stock valued at $16,203,000 after buying an additional 94,704 shares during the last quarter. Bessemer Group Inc. increased its stake in Cactus by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 248,369 shares of the company's stock valued at $12,441,000 after buying an additional 16,662 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Cactus by 4.5% during 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 stake 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Cactus in the first quarter valued at approximately $1,423,000. Institutional investors own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WHD. Piper Sandler cut their price objective on Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, July 15th. Bank of America boosted their target price 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. Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective on the stock. in a research note on Monday. Citigroup boosted their target price on Cactus from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus reduced their target price on shares of Cactus from $69.00 to $67.00 and set a "buy" rating for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $56.40.

Cactus Price Performance

NYSE:WHD traded up $0.78 during mid-day trading on Monday, hitting $61.36. 634,974 shares of the stock traded hands, compared to its average volume of 736,278. The business's 50-day moving average price is $59.76 and its 200 day moving average price is $55.92. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.88 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.83 and a beta of 1.95. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96.

Cactus (NYSE:WHD - Get Free Report) last posted 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. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. During the same period in the prior year, the business earned $0.80 earnings per share. Cactus's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus's dividend payout ratio (DPR) is currently 18.44%.

Insider Transactions at Cactus

In related news, CEO Stephen Tadlock sold 33,500 shares of the business's stock in a transaction that occurred on 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 owns 36,357 shares in the company, valued at $2,230,501.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 17.72% of the company's stock.

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.