Wasatch Advisors LP Sells 350,410 Shares of Cactus, Inc. (NYSE:WHD)

Wasatch Advisors LP lessened its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 39.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,517 shares of the company's stock after selling 350,410 shares during the quarter. Wasatch Advisors LP owned 0.68% of Cactus worth $32,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Cactus in the third quarter worth about $34,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 340 shares during the period. Nisa Investment Advisors LLC lifted its position in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock valued at $188,000 after purchasing an additional 307 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus during the third quarter valued at approximately $209,000. Finally, CIBC Asset Management Inc bought a new position in shares of Cactus in the third quarter worth approximately $212,000. 85.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on WHD. Stifel Nicolaus lowered their price target on shares of Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a report on Friday, October 11th. 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 report on Monday, November 4th. Finally, Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report on Monday, October 14th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.40.

Insider Buying and Selling at Cactus

In related news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction dated Monday, November 4th. The shares were 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 $2,230,501.95. This trade represents a 47.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the business'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 sale, the director now directly owns 12,177 shares in the company, valued at $794,183.94. The trade was a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,500 shares of company stock valued at $8,916,325. 17.72% of the stock is currently owned by company insiders.

Cactus Trading Up 1.4 %

Shares of WHD traded up $0.96 during trading hours on Friday, reaching $68.66. 388,013 shares of the company traded hands, compared to its average volume of 673,260. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $63.09 and its two-hundred day moving average price is $58.07. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.24 and a beta of 1.95.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS 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 business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same period last year, the business posted $0.80 earnings per share. Cactus's quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.76%. Cactus's dividend payout ratio (DPR) is 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.