Intech Investment Management LLC Acquires Shares of 16,549 Cactus, Inc. (NYSE:WHD)

Intech Investment Management LLC acquired a new stake in Cactus, Inc. (NYSE:WHD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,549 shares of the company’s stock, valued at approximately $987,000.

A number of other hedge funds also recently bought and sold shares of WHD. Pacer Advisors Inc. acquired a new stake in shares of Cactus during the 2nd quarter worth approximately $122,623,000. Boston Trust Walden Corp increased its holdings in shares of Cactus by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after buying an additional 25,839 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cactus by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock worth $60,811,000 after buying an additional 38,983 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Cactus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock worth $45,453,000 after buying an additional 28,663 shares during the last quarter. Finally, Makaira Partners LLC increased its holdings in shares of Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after buying an additional 399,581 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus cut 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 downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a report on Monday, November 4th. Finally, Bank of America raised 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. One research 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.40.

Insider Buying and Selling at Cactus

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction on 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 sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at approximately $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. Insiders sold 138,500 shares of company stock valued at $8,916,325 in the last 90 days. Company insiders own 16.84% of the company’s stock.

Cactus Stock Down 0.4 %

Cactus stock opened at $67.70 on Thursday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The firm has a 50 day moving average price of $62.74 and a 200 day moving average price of $57.76. The company has a market capitalization of $5.39 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 3.28 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating 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 firm had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.77%. Cactus’s dividend payout ratio is presently 18.44%.

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.