Sanctuary Advisors LLC Makes New Investment in Cactus, Inc. (NYSE:WHD)

Sanctuary Advisors LLC acquired a new position in Cactus, Inc. (NYSE:WHD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,958 shares of the company’s stock, valued at approximately $177,000.

A number of other hedge funds have also recently added to or reduced their stakes in WHD. New York State Teachers Retirement System lifted its stake in Cactus by 1.3% in the third quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after buying an additional 200 shares during the last quarter. Dana Investment Advisors Inc. lifted its stake in Cactus by 0.6% in the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock valued at $1,678,000 after buying an additional 202 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Cactus by 0.8% in the third quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company’s stock valued at $2,182,000 after buying an additional 301 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after buying an additional 307 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Cactus in the third quarter valued at $34,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays cut 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. Bank of America lifted their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus cut their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.40.

Insiders Place Their Bets

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the sale, the director now directly owns 12,177 shares in the company, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 36,357 shares in the company, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,500 shares of company stock worth $8,916,325. 17.71% of the stock is owned by corporate insiders.

Cactus Price Performance

Shares of NYSE WHD opened at $57.54 on Tuesday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The firm’s 50-day simple moving average is $63.07 and its 200 day simple moving average is $59.70. 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 stock has a market cap of $4.58 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.98 and a beta of 1.97.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm 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 business earned $0.80 earnings per share. Cactus’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 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.