Capital International Investors Buys 52,139 Shares of Cactus, Inc. $WHD

Capital International Investors increased its stake in Cactus, Inc. (NYSE:WHD) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,845,521 shares of the company’s stock after purchasing an additional 52,139 shares during the quarter. Capital International Investors owned approximately 2.31% of Cactus worth $72,843,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WHD. Salomon & Ludwin LLC bought a new position in shares of Cactus in the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares during the period. Huntington National Bank grew its stake in Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after buying an additional 390 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the last quarter. Finally, CWM LLC raised its holdings in Cactus by 51.1% in the 3rd quarter. CWM LLC now owns 4,483 shares of the company’s stock worth $177,000 after acquiring an additional 1,517 shares during the period. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Barclays lifted their price target on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cactus currently has an average rating of “Moderate Buy” and an average price target of $56.33.

Insider Activity

In related news, President Joel Bender sold 106,809 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 200,000 shares of company stock worth $10,039,080 in the last quarter. Insiders own 13.75% of the company’s stock.

Cactus Stock Down 0.1%

Shares of WHD opened at $48.54 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. The company has a 50-day simple moving average of $53.98 and a 200-day simple moving average of $45.94. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The firm has a market capitalization of $3.88 billion, a P/E ratio of 20.23, a P/E/G ratio of 4.77 and a beta of 1.25.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. During the same period last year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is presently 23.33%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.