State Street Corp Grows Stock Holdings in Cactus, Inc. (NYSE:WHD)

State Street Corp lifted its position in Cactus, Inc. (NYSE:WHD - Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,755,757 shares of the company's stock after purchasing an additional 81,149 shares during the quarter. State Street Corp owned about 3.46% of Cactus worth $164,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP purchased a new stake in Cactus in the third quarter valued at $9,501,000. Rhumbline Advisers boosted its stake in shares of Cactus by 69.7% in the second quarter. Rhumbline Advisers now owns 206,982 shares of the company's stock worth $10,916,000 after buying an additional 84,984 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Cactus by 160.8% in the second quarter. TD Asset Management Inc now owns 38,600 shares of the company's stock worth $2,036,000 after buying an additional 23,800 shares during the last quarter. Amalgamated Bank grew its holdings in Cactus by 800.4% during the second quarter. Amalgamated Bank now owns 20,071 shares of the company's stock worth $1,059,000 after acquiring an additional 17,842 shares during the period. Finally, Citigroup Inc. raised its position in Cactus by 81.2% during the third 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. Institutional investors and hedge funds own 85.11% of the company's stock.

Insider Buying and Selling

In related news, CEO Stephen Tadlock sold 33,500 shares of the 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 transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the transaction, the director now owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stifel Nicolaus lowered their price objective 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 increased their price target 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, Barclays downgraded shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective for the company. 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $56.40.

Cactus Price Performance

NYSE:WHD traded down $0.12 during trading hours on Friday, reaching $63.17. 397,132 shares of the company were exchanged, compared to its average volume of 564,939. 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 firm has a market cap of $5.03 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.97. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01. The stock's 50-day moving average is $63.87 and its 200-day moving average is $58.99.

Cactus (NYSE:WHD - Get Free Report) last released its 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 business had revenue of $293.18 million during the quarter, compared to analysts' expectations of $287.47 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus's dividend payout ratio is presently 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.