Cactus, Inc. $WHD Shares Sold by US Bancorp DE

US Bancorp DE decreased its stake in shares of Cactus, Inc. (NYSE:WHD) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 15,475 shares of the company’s stock after selling 763 shares during the period. US Bancorp DE’s holdings in Cactus were worth $677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WHD. Advisors Asset Management Inc. grew its holdings in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cactus during the first quarter worth $57,000. Financial Harvest LLC purchased a new position in Cactus in the first quarter valued at $130,000. KBC Group NV raised its stake in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock valued at $155,000 after buying an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Cactus by 21.4% in the second quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock valued at $190,000 after buying an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president owned 11,088 shares of the company’s stock, valued at $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WHD shares. Barclays reaffirmed an “overweight” rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Stifel Nicolaus lowered their target price on shares of Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 1st. Zacks Research downgraded shares of Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.67.

Cactus Price Performance

WHD stock opened at $36.59 on Monday. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.92 billion, a P/E ratio of 13.81, a PEG ratio of 3.46 and a beta of 1.48. The business has a 50 day simple moving average of $39.56 and a 200-day simple moving average of $41.29. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $273.58 million during the quarter, compared to analysts’ expectations of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. As a group, equities analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. This is a positive change from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 29th. Cactus’s payout ratio is currently 21.13%.

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.