Weiss Asset Management LP bought a new position in Cactus, Inc. (NYSE:WHD - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 228,708 shares of the company's stock, valued at approximately $13,647,000. Weiss Asset Management LP owned approximately 0.29% of Cactus as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of WHD. Quest Partners LLC bought a new stake in Cactus in the third quarter worth $34,000. GAMMA Investing LLC increased its position in Cactus by 33.8% in the second 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 last quarter. Nisa Investment Advisors LLC increased 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 worth $188,000 after purchasing an additional 307 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Cactus in the third quarter worth $209,000. Finally, CIBC Asset Management Inc bought a new stake in Cactus in the third quarter worth $212,000. Hedge funds and other institutional investors own 85.11% of the company's stock.
Insider Buying and Selling
In other Cactus news, COO Steven Bender sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the completion of the sale, the chief operating officer now directly owns 57,567 shares of the company's stock, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 shares were 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 trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,500 shares of company stock valued at $8,916,325 over the last three months. 17.72% of the stock is owned by company insiders.
Cactus Trading Down 3.1 %
Shares of NYSE WHD traded down $2.08 during mid-day trading on Friday, reaching $64.11. The company had a trading volume of 300,713 shares, compared to its average volume of 728,015. The business's 50-day moving average is $63.56 and its 200-day moving average is $58.44. 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 stock has a market cap of $5.10 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 3.12 and a beta of 1.97. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01.
Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share 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 company had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.
Cactus Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 0.81%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus's dividend payout ratio (DPR) is presently 18.44%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on WHD shares. Stifel Nicolaus reduced their price target 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. Bank of America boosted their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, Barclays cut shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective on the stock. in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $56.40.
Get Our Latest Stock Analysis on WHD
About Cactus
(
Free Report)
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.
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