Tidal Investments LLC Increases Holdings in Cactus, Inc. (NYSE:WHD)

Tidal Investments LLC grew its holdings in shares of Cactus, Inc. (NYSE:WHD) by 9.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 31,204 shares of the company’s stock after acquiring an additional 2,591 shares during the quarter. Tidal Investments LLC’s holdings in Cactus were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Quest Partners LLC bought a new position in shares of Cactus during the 3rd quarter worth $34,000. GAMMA Investing LLC grew its stake in shares of Cactus by 81.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after acquiring an additional 1,096 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Cactus during the 3rd quarter worth $177,000. Nisa Investment Advisors LLC grew its stake in shares of Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after acquiring an additional 307 shares during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Cactus during the 3rd quarter worth $209,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WHD has been the subject of several research reports. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research note on Monday, November 4th. Bank of America raised their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus cut their target price 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Stock Down 2.3 %

Shares of NYSE WHD opened at $61.49 on Wednesday. The company has a market cap of $4.89 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.98 and a beta of 1.97. 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 business has a 50-day simple moving average of $63.84 and a two-hundred day simple moving average of $59.20. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01.

Cactus (NYSE:WHD) last issued its quarterly earnings results 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 company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. Research analysts anticipate 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 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 dividend on an annualized basis and a dividend yield of 0.85%. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Insider Activity

In related news, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.71% of the stock is currently owned by insiders.

Cactus Company 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.