3,552 Shares in Cactus, Inc. (NYSE:WHD) Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new stake in Cactus, Inc. (NYSE:WHD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,552 shares of the company’s stock, valued at approximately $212,000.

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

Cactus Stock Performance

WHD opened at $68.99 on Friday. The firm’s fifty day simple moving average is $62.13 and its two-hundred day simple moving average is $57.30. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $70.01. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.08 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) last issued its quarterly earnings results 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 net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same period last year, the company posted $0.80 EPS. Cactus’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is currently 18.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WHD. Stifel Nicolaus cut their target price 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 cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a report on Monday, November 4th. Finally, Bank of America increased their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus price target of $56.40.

Insider Buying and Selling at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the firm’s 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale, the director now directly owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. This represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,500 shares of company stock worth $8,916,325. Corporate insiders own 17.72% of the company’s stock.

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.