Cactus, Inc. (NYSE:WHD) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its stake in Cactus, Inc. (NYSE:WHD) by 68.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,194 shares of the company’s stock after selling 76,738 shares during the period. BNP Paribas Financial Markets’ holdings in Cactus were worth $2,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Cactus by 69.7% in the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after purchasing an additional 84,984 shares during the period. TD Asset Management Inc lifted its stake in shares of Cactus by 160.8% in the second quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock valued at $2,036,000 after purchasing an additional 23,800 shares during the period. Amalgamated Bank lifted its stake in shares of Cactus by 800.4% in the second quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock valued at $1,059,000 after purchasing an additional 17,842 shares during the period. Citigroup Inc. raised its position in Cactus by 81.2% during the third quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock worth $5,338,000 after acquiring an additional 40,099 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Cactus during the second quarter worth about $122,623,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Activity at Cactus

In other Cactus news, COO Steven Bender sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 57,567 shares in the company, valued at $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the sale, 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. Over the last three months, insiders sold 138,500 shares of company stock worth $8,916,325. 17.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. 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 cut their target price on shares of 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 shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research 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. According to MarketBeat, Cactus presently has an average rating of “Hold” and an average price target of $56.40.

Cactus Stock Performance

Shares of NYSE WHD opened at $63.96 on Friday. The company has a market cap of $5.09 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.12 and a beta of 1.97. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company has a 50-day simple moving average of $63.67 and a 200-day simple moving average of $58.53.

Cactus (NYSE:WHD) last issued 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. The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current 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 issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.81%. 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.