Mutual of America Capital Management LLC Trims Stake in Cactus, Inc. (NYSE:WHD)

Mutual of America Capital Management LLC lowered its holdings in Cactus, Inc. (NYSE:WHD) by 7.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,999 shares of the company’s stock after selling 800 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cactus were worth $597,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cactus by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Cactus in the 2nd quarter worth approximately $122,623,000. Boston Trust Walden Corp grew its stake in Cactus by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after buying an additional 25,839 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cactus by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock worth $60,811,000 after buying an additional 38,983 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cactus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock valued at $45,453,000 after buying an additional 28,663 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WHD. Bank of America upped their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Stifel Nicolaus cut their price objective on 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 Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.40.

Insider Activity at Cactus

In related news, COO Steven Bender sold 100,000 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. The trade was a 29.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock worth $8,916,325 in the last three months. 17.71% of the stock is owned by insiders.

Cactus Stock Performance

NYSE WHD opened at $67.94 on Wednesday. The company has a 50-day simple moving average of $62.60 and a two-hundred day simple moving average of $57.64. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.26 and a beta of 1.95. 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 (NYSE:WHD) last issued its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. The company had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Cactus’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. On average, equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.77%. 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.