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

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 55.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Cactus during the second quarter valued at about $122,623,000. Makaira Partners LLC raised its position in Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after purchasing an additional 399,581 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Cactus by 3,604.5% in the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock worth $17,221,000 after buying an additional 317,704 shares during the period. Barlow Wealth Partners Inc. bought a new stake in shares of Cactus in the 2nd quarter worth approximately $14,553,000. Finally, Renaissance Technologies LLC increased its stake in shares of Cactus by 179.2% during the second quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock valued at $12,589,000 after buying an additional 153,200 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In related 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.84% of the stock is owned by company insiders.

Cactus Stock Performance

Shares of WHD stock opened at $65.24 on Wednesday. The company’s fifty day moving average price is $61.66 and its 200-day moving average price is $57.16. The stock has a market cap of $5.19 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 3.04 and a beta of 1.95. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01.

Cactus (NYSE:WHD) last posted 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 for the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research note on Monday, November 4th. Stifel Nicolaus dropped their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Bank of America boosted their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cactus presently has a consensus rating of “Hold” and a consensus price target of $56.40.

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.