Loomis Sayles & Co. L P Trims Stock Position in Cactus, Inc. (NYSE:WHD)

Loomis Sayles & Co. L P cut its stake in Cactus, Inc. (NYSE:WHD) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 972,654 shares of the company’s stock after selling 22,457 shares during the quarter. Loomis Sayles & Co. L P owned about 1.22% of Cactus worth $58,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in Cactus in the third quarter worth about $34,000. GAMMA Investing LLC raised its position in shares of Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after acquiring an additional 340 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Cactus in the 1st quarter valued at approximately $115,000. Nisa Investment Advisors LLC boosted its position in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after purchasing an additional 307 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Cactus in the third quarter worth $209,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a report on Monday, November 4th. Stifel Nicolaus dropped 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. Finally, Bank of America upped their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Stock Performance

Shares of Cactus stock opened at $68.99 on Monday. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $70.01. The firm’s 50-day moving average is $62.39 and its 200 day moving average is $57.51. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.26 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $293.18 million for 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 business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

Insider Transactions at Cactus

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 stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % 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 Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 36,357 shares in the company, valued at $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock worth $8,916,325 over the last quarter. 16.84% of the stock is currently owned by insiders.

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.