Swiss National Bank Reduces Stake in Cactus, Inc. (NYSE:WHD)

Swiss National Bank decreased its stake in shares of Cactus, Inc. (NYSE:WHD) by 0.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 128,300 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank owned 0.16% of Cactus worth $7,656,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after acquiring an additional 340 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cactus in the 1st quarter valued at about $115,000. Nisa Investment Advisors LLC raised its holdings in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after acquiring an additional 307 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus in the 3rd quarter valued at about $209,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Cactus in the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Bank of America raised 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. Finally, Barclays lowered 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 equities 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 stock. According to MarketBeat, Cactus presently has a consensus rating of “Hold” and a consensus target price of $56.40.

Insider Buying and Selling

In related news, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, the director now directly owns 12,177 shares in the company, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock worth $8,916,325 in the last ninety days. 16.84% of the stock is owned by insiders.

Cactus Price Performance

Shares of Cactus stock opened at $69.48 on Tuesday. 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 firm has a market capitalization of $5.53 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.26 and a beta of 1.95. The business’s 50-day moving average price is $62.39 and its 200-day moving average price is $57.51. 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 results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business 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 earned $0.80 EPS. Cactus’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.75%. Cactus’s payout ratio is 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.