Bridgewater Associates LP Invests $9.50 Million in Cactus, Inc. (NYSE:WHD)

Bridgewater Associates LP bought a new position in shares of Cactus, Inc. (NYSE:WHD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 159,225 shares of the company’s stock, valued at approximately $9,501,000. Bridgewater Associates LP owned about 0.20% of Cactus as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Cactus in the 2nd quarter worth about $122,623,000. Boston Trust Walden Corp grew its stake in Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after purchasing an additional 25,839 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cactus by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock worth $60,811,000 after purchasing an additional 38,983 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Cactus by 3.9% in the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock valued at $45,453,000 after buying an additional 28,663 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cactus by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company’s stock valued at $41,042,000 after buying an additional 53,318 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Performance

WHD opened at $67.70 on Friday. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.19 and a beta of 1.95. The company’s fifty day moving average price is $62.88 and its two-hundred day moving average price is $57.83. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.77%. Cactus’s payout ratio is 18.44%.

Insider Buying and Selling

In related news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the 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 completion of the sale, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WHD. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a research note on Monday, November 4th. Bank of America upped their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus reduced their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.40.

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.