Wasatch Advisors LP lessened its stake in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 23.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,033,963 shares of the company’s stock after selling 315,457 shares during the quarter. Wasatch Advisors LP’s holdings in Cactus were worth $52,970,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Cactus by 29.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock valued at $130,000 after acquiring an additional 577 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Cactus during the second quarter worth approximately $58,000. CoreCap Advisors LLC bought a new stake in shares of Cactus during the second quarter worth approximately $321,000. Pacer Advisors Inc. boosted its holdings in shares of Cactus by 128.0% during the first quarter. Pacer Advisors Inc. now owns 7,142 shares of the company’s stock worth $338,000 after acquiring an additional 4,010 shares during the period. Finally, Carlson Capital L.P. acquired a new position in shares of Cactus in the first quarter valued at approximately $1,611,000. Institutional investors own 85.11% of the company’s stock.
Insider Activity
In other news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the transaction, the chief executive officer directly owned 43,178 shares in the company, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven Bender sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the sale, the chief executive officer directly owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 263,455 shares of company stock worth $16,261,764. 12.91% of the stock is owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Research Report on Cactus
Cactus Price Performance
Shares of NYSE WHD opened at $71.99 on Wednesday. The stock has a market capitalization of $5.77 billion, a PE ratio of 61.53, a P/E/G ratio of 2.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The business has a fifty day moving average price of $56.64 and a two-hundred day moving average price of $55.06. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $72.69.
Cactus (NYSE:WHD – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.29. The company had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.Cactus’s quarterly revenue was up 64.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts predict that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.
Cactus Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $0.15 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is currently 47.86%.
Cactus 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.
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