Royce & Associates LP Sells 940 Shares of Cactus, Inc. (NYSE:WHD)

Royce & Associates LP lowered its holdings in Cactus, Inc. (NYSE:WHD) by 0.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 208,055 shares of the company’s stock after selling 940 shares during the quarter. Royce & Associates LP’s holdings in Cactus were worth $12,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc purchased a new stake in Cactus during the 3rd quarter worth approximately $212,000. Victory Capital Management Inc. raised its position in Cactus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock worth $45,453,000 after acquiring an additional 28,663 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in Cactus during the third quarter worth $209,000. Crossmark Global Holdings Inc. acquired a new position in Cactus during the third quarter worth $295,000. Finally, Atria Investments Inc raised its position in Cactus by 9.4% during the third quarter. Atria Investments Inc now owns 8,166 shares of the company’s stock worth $487,000 after acquiring an additional 704 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Trading Down 1.9 %

Shares of WHD stock opened at $64.36 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a market cap of $5.12 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.95. The company has a 50-day moving average of $61.24 and a two-hundred day moving average of $56.90. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. Cactus’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. On average, analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Cactus’s dividend payout ratio is presently 18.44%.

Insider Transactions at Cactus

In other Cactus news, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were 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 owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. The trade was a 47.96 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WHD. Bank of America upped their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research report on Monday, November 4th. Finally, Stifel Nicolaus reduced 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. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.40.

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.