Mutual of America Capital Management LLC Lowers Stock Position in Cactus, Inc. (NYSE:WHD)

Mutual of America Capital Management LLC reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,999 shares of the company’s stock after selling 800 shares during the period. Mutual of America Capital Management LLC’s holdings in Cactus were worth $597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in Cactus by 13.1% in the 3rd quarter. Natixis Advisors LLC now owns 16,623 shares of the company’s stock valued at $992,000 after buying an additional 1,931 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Cactus in the third quarter valued at approximately $212,000. Victory Capital Management Inc. increased its position in shares of Cactus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock valued at $45,453,000 after acquiring an additional 28,663 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus during the third quarter valued at approximately $209,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Cactus during the third quarter worth $295,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Trading Down 2.2 %

Shares of WHD opened at $67.94 on Wednesday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The business has a 50-day moving average of $62.60 and a 200 day moving average of $57.64. The firm has a market cap of $5.41 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 3.26 and a beta of 1.95. 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 posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share 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 during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

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 dividend of $0.13 per share. 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 0.77%. Cactus’s payout ratio is 18.44%.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of Cactus 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 transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at $2,230,501.95. The trade was a 47.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 in the last 90 days. 17.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WHD. Stifel Nicolaus reduced their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Bank of America increased their price target on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Finally, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.40.

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.