Sumitomo Mitsui Trust Group Inc. Sells 12,592 Shares of Cactus, Inc. (NYSE:WHD)

Sumitomo Mitsui Trust Group Inc. decreased its position in Cactus, Inc. (NYSE:WHD) by 55.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,258 shares of the company’s stock after selling 12,592 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cactus were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WHD. GAMMA Investing LLC lifted its stake in shares of Cactus by 33.8% in the 2nd 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 period. SG Americas Securities LLC bought a new stake in shares of Cactus during the 1st quarter valued at $115,000. Nisa Investment Advisors LLC increased its stake in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after purchasing an additional 307 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in Cactus in the 3rd quarter worth $209,000. Finally, Cim LLC purchased a new position in Cactus during the second quarter valued at $219,000. Institutional investors own 85.11% of the company’s stock.

Insider Activity at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction that occurred 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 directly 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 the SEC website. Also, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by corporate insiders.

Cactus Stock Performance

NYSE WHD opened at $65.24 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01. The business has a 50-day moving average price of $61.66 and a 200-day moving average price of $57.16. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 3.04 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.80%. Cactus’s dividend payout ratio is 18.44%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WHD. Bank of America upped their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Stifel Nicolaus reduced their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.40.

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.