Jane Street Group LLC Sells 86,822 Shares of Cactus, Inc. (NYSE:WHD)

Jane Street Group LLC cut its stake in Cactus, Inc. (NYSE:WHD) by 71.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,477 shares of the company’s stock after selling 86,822 shares during the quarter. Jane Street Group LLC’s holdings in Cactus were worth $2,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WHD. New York State Teachers Retirement System increased its position in shares of Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after acquiring an additional 200 shares during the period. Dana Investment Advisors Inc. boosted its holdings in Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock worth $1,678,000 after buying an additional 202 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Cactus by 0.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company’s stock valued at $2,182,000 after acquiring an additional 301 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Cactus by 10.8% during 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 period. Finally, Quest Partners LLC acquired a new position in Cactus during the third quarter worth $34,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the topic of a number of research analyst reports. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. 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 note on Monday, October 14th. Finally, Stifel Nicolaus lowered their price target on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. One equities 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.40.

Insider Activity

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were 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 in the company, valued at $794,183.94. This represents a 29.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,500 shares of company stock worth $8,916,325. 16.84% of the stock is currently owned by insiders.

Cactus Trading Up 1.0 %

Shares of WHD stock opened at $57.35 on Wednesday. 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, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The stock has a market capitalization of $4.56 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 2.98 and a beta of 1.97. The company has a 50 day moving average price of $63.31 and a 200 day moving average price of $59.61.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. Equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is 18.44%.

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.