Cactus, Inc. $WHD Stock Position Lowered by Royce & Associates LP

Royce & Associates LP reduced its position in Cactus, Inc. (NYSE:WHD) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 471,112 shares of the company’s stock after selling 87,105 shares during the period. Royce & Associates LP owned about 0.59% of Cactus worth $29,313,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WHD. Your Advocates Ltd. LLP acquired a new stake in shares of Cactus during the third quarter valued at approximately $34,000. Signaturefd LLC boosted its stake in Cactus by 56.8% in the 3rd quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after purchasing an additional 241 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Cactus in the 2nd quarter worth approximately $35,000. Harbor Investment Advisory LLC purchased a new position in Cactus during the 2nd quarter worth approximately $58,000. Finally, Parkside Financial Bank & Trust grew its position in Cactus by 474.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,465 shares of the company’s stock worth $75,000 after purchasing an additional 1,210 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cactus news, President Joel Bender sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total value of $7,037,000.00. Following the transaction, the president owned 41,519 shares in the company, valued at $2,921,692.03. The trade was a 70.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $63.91, for a total value of $6,391,000.00. Following the completion of the transaction, the chief executive officer owned 120,527 shares in the company, valued at $7,702,880.57. This trade represents a 45.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 300,000 shares of company stock worth $19,625,000 over the last ninety days. 12.91% of the stock is currently owned by company insiders.

Cactus Stock Up 0.6%

WHD traded up $0.35 on Friday, reaching $62.10. 326,048 shares of the company traded hands, compared to its average volume of 709,632. The stock’s 50 day moving average price is $64.03 and its 200-day moving average price is $58.65. Cactus, Inc. has a 52-week low of $39.16 and a 52-week high of $74.07. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 1.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 2.10.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.19. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The firm had revenue of $430.89 million for the quarter, compared to analyst estimates of $437.94 million. During the same quarter in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 63.2% compared to the same quarter last year. On average, sell-side analysts expect that Cactus, Inc. will post 3.22 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, November 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is 41.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Stifel Nicolaus raised their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Barclays upped their price target on Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Finally, Piper Sandler upped their price target on Cactus from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Cactus Company Profile

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.