Pitcairn Co. Sells 2,046 Shares of Cactus, Inc. (NYSE:WHD)

Pitcairn Co. reduced its stake in Cactus, Inc. (NYSE:WHD) by 15.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,094 shares of the company’s stock after selling 2,046 shares during the period. Pitcairn Co.’s holdings in Cactus were worth $662,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC grew its position in Cactus by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company’s stock valued at $10,176,000 after purchasing an additional 8,833 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cactus by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after buying an additional 53,142 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Cactus by 69.7% during the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after buying an additional 84,984 shares during the last quarter. TD Asset Management Inc increased its position in shares of Cactus by 160.8% during the second quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock worth $2,036,000 after acquiring an additional 23,800 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Cactus by 800.4% in the 2nd quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock worth $1,059,000 after acquiring an additional 17,842 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the subject of a number of analyst reports. Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research report on Monday, November 4th. Finally, Stifel Nicolaus lowered their price target on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cactus currently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Stock Performance

WHD stock opened at $69.48 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.53 billion, a PE ratio of 24.64, a P/E/G ratio of 3.26 and a beta of 1.95. The business has a 50 day moving average of $62.39 and a 200-day moving average of $57.51. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, sell-side analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.75%. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Insiders Place Their Bets

In other news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction on 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of Cactus stock in a transaction dated 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 directly owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,500 shares of company stock valued at $8,916,325. Company insiders own 16.84% of the company’s stock.

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.