Royce & Associates LP Has $12.42 Million Holdings in Cactus, Inc. (NYSE:WHD)

Royce & Associates LP lessened its holdings in shares of Cactus, Inc. (NYSE:WHD) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 208,055 shares of the company’s stock after selling 940 shares during the period. Royce & Associates LP owned about 0.26% of Cactus worth $12,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after purchasing an additional 200 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in shares of Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock valued at $1,678,000 after acquiring an additional 202 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after purchasing an additional 307 shares during the period. GAMMA Investing LLC grew its stake in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after purchasing an additional 340 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Cactus by 3.3% in the second quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock valued at $967,000 after purchasing an additional 585 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were 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 in the company, valued at $2,230,501.95. This represents a 47.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven Bender sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the completion of the transaction, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.72% of the company’s stock.

Cactus Stock Performance

Cactus stock opened at $64.36 on Friday. 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 company has a market capitalization of $5.12 billion, a PE ratio of 22.82, a P/E/G ratio of 3.05 and a beta of 1.95. The firm has a fifty day simple moving average of $61.24 and a two-hundred day simple moving average of $56.90. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly 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 business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

About Cactus

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.