Central Pacific Bank Trust Division Boosts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Central Pacific Bank Trust Division lifted its stake in Cactus, Inc. (NYSE:WHD) by 32.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,336 shares of the company’s stock after buying an additional 820 shares during the period. Central Pacific Bank Trust Division’s holdings in Cactus were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bridgewater Associates LP purchased a new position in Cactus in the 3rd quarter worth approximately $9,501,000. Rhumbline Advisers increased its stake in shares of Cactus by 69.7% in the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock worth $10,916,000 after buying an additional 84,984 shares during the period. TD Asset Management Inc raised its holdings in Cactus by 160.8% during the 2nd quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock valued at $2,036,000 after buying an additional 23,800 shares during the last quarter. Amalgamated Bank boosted its position in Cactus by 800.4% during the 2nd quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock valued at $1,059,000 after buying an additional 17,842 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Cactus by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after acquiring an additional 52,085 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. 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 report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus currently has a consensus rating of “Hold” and a consensus price target of $56.40.

Insider Activity at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the business’s 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 sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at $2,230,501.95. The trade was a 47.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the company’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 value of $326,100.00. Following the completion of the sale, the director now owns 12,177 shares in the company, valued at $794,183.94. The trade was 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 in the last three months. Company insiders own 17.71% of the company’s stock.

Cactus Stock Performance

Cactus stock opened at $60.92 on Friday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The stock’s 50 day simple moving average is $63.07 and its two-hundred day simple moving average is $59.89. 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 stock has a market cap of $4.85 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.98 and a beta of 1.98.

Cactus (NYSE:WHD) last released its quarterly 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. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. Cactus’s payout ratio is 18.44%.

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.