The Manufacturers Life Insurance Company Raises Position in Cactus, Inc. (NYSE:WHD)

The Manufacturers Life Insurance Company lifted its stake in shares of Cactus, Inc. (NYSE:WHD) by 0.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,560 shares of the company’s stock after buying an additional 301 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cactus were worth $2,182,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WHD. Hancock Whitney Corp bought a new position in Cactus during the 3rd quarter valued at $223,000. Fisher Asset Management LLC raised its holdings in shares of Cactus by 10.0% in the third quarter. Fisher Asset Management LLC now owns 330,444 shares of the company’s stock valued at $19,718,000 after purchasing an additional 30,014 shares during the last quarter. Citigroup Inc. lifted its position in shares of Cactus by 81.2% during the third quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after purchasing an additional 40,099 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cactus by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company’s stock worth $41,042,000 after purchasing an additional 53,318 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Cactus during the third quarter worth about $987,000. Institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on WHD shares. Bank of America lifted 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 decreased their price target 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, Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cactus presently has an average rating of “Hold” and an average target price of $56.40.

Insider Buying and Selling

In related news, CEO Stephen Tadlock sold 33,500 shares of the company’s 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of Cactus stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company’s stock, valued at $794,183.94. This represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,500 shares of company stock valued at $8,916,325. 17.71% of the stock is owned by insiders.

Cactus Trading Down 3.4 %

Shares of WHD stock opened at $63.96 on Monday. 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 firm has a market cap of $5.09 billion, a P/E ratio of 22.68, a PEG ratio of 3.02 and a beta of 1.97. The company has a 50 day moving average of $63.67 and a 200-day moving average of $58.63. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01.

Cactus (NYSE:WHD) last announced its quarterly earnings data 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. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the company earned $0.80 earnings per share. Cactus’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate 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, December 19th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is currently 18.44%.

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.