Wellington Management Group LLP trimmed its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 5.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,655,410 shares of the company's stock after selling 87,386 shares during the quarter. Wellington Management Group LLP owned approximately 2.08% of Cactus worth $98,778,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. purchased a new position in Cactus in the 2nd quarter worth about $122,623,000. Makaira Partners LLC boosted its holdings in shares of Cactus by 399.6% in the second 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 period. Principal Financial Group Inc. increased its position in shares of Cactus by 3,604.5% in the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company's stock worth $17,221,000 after acquiring an additional 317,704 shares in the last quarter. Barlow Wealth Partners Inc. acquired a new stake in shares of Cactus during the second quarter valued at approximately $14,553,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Cactus in the 3rd quarter valued at approximately $13,647,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 36,357 shares of the company's stock, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly owns 12,177 shares in the company, valued at $794,183.94. The trade was a 29.11 % 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 over the last ninety days. Corporate insiders own 16.84% of the company's stock.
NYSE WHD opened at $64.17 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. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01. The firm's fifty day simple moving average is $63.76 and its 200-day simple moving average is $58.73. The company has a market capitalization of $5.11 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.02 and a beta of 1.97.
Cactus (NYSE:WHD - Get Free Report) last issued 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 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 business's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Monday, December 2nd. Cactus's dividend payout ratio (DPR) is presently 18.44%.
Several research firms have weighed in on WHD. Barclays cut shares of 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. Bank of America upped their price target on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus reduced their price objective on Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Cactus has an average rating of "Hold" and a consensus target price of $56.40.
Check Out Our Latest Stock Analysis on WHD
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.
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