Teachers Retirement System of The State of Kentucky Cuts Stake in Cactus, Inc. (NYSE:WHD)

Teachers Retirement System of The State of Kentucky reduced its stake in Cactus, Inc. (NYSE:WHD) by 2.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 64,880 shares of the company’s stock after selling 1,554 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.08% of Cactus worth $3,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WHD. Quest Partners LLC purchased a new position in shares of Cactus in the 3rd quarter worth about $34,000. GAMMA Investing LLC boosted its holdings in shares of Cactus by 81.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after buying an additional 1,096 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after buying an additional 307 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Cactus in the 3rd quarter worth about $209,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Cactus in the 3rd quarter worth about $212,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Down 0.2 %

Shares of Cactus stock opened at $63.16 on Friday. The stock’s 50-day simple moving average is $63.87 and its 200 day simple moving average is $58.99. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $70.01. The stock has a market capitalization of $5.03 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.99 and a beta of 1.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD) last announced its quarterly 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. Cactus had a return on equity of 20.24% and a net margin of 16.57%. 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 prior year, the business posted $0.80 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is presently 18.44%.

Wall Street Analyst Weigh In

WHD has been the topic of a number of research analyst reports. Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a report on Monday, November 4th. Bank of America boosted their price objective on 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 lowered their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $56.40.

Insider Activity

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 value of $2,055,225.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock worth $8,916,325 over the last ninety days. Company insiders own 17.72% of the company’s stock.

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.