Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Cactus, Inc. (NYSE:WHD)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 55.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,258 shares of the company's stock after selling 12,592 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Cactus were worth $612,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock worth $71,000 after acquiring an additional 340 shares in the last quarter. SG Americas Securities LLC bought a new position in Cactus in the 1st quarter valued at about $115,000. Nisa Investment Advisors LLC increased its holdings in Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after purchasing an additional 307 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Cactus during the 3rd quarter worth approximately $209,000. Finally, Cim LLC purchased a new position in shares of Cactus during the second quarter valued at approximately $219,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Performance

WHD traded up $0.07 during midday trading on Wednesday, hitting $65.29. 1,018,243 shares of the company traded hands, compared to its average volume of 736,701. The company's 50-day moving average is $61.87 and its 200 day moving average is $57.22. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01. The firm has a market capitalization of $5.20 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.95. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

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, beating analysts' consensus estimates of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. During the same period in the previous year, the firm earned $0.80 EPS. The business's quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.80%. Cactus's payout ratio is currently 18.44%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WHD. Barclays lowered Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price target on the stock. in a report on Monday, November 4th. Stifel Nicolaus lowered their price objective 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. Finally, Bank of America upped their price objective 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. One research 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, Cactus presently has a consensus rating of "Hold" and a consensus target price of $56.40.

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the company's stock in a transaction 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 directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 directly owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. 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 three months. 16.84% of the stock is owned by company insiders.

Cactus 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.