Cactus, Inc. (NYSE:WHD) Stock Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in Cactus, Inc. (NYSE:WHD) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,658 shares of the company’s stock after purchasing an additional 68,718 shares during the quarter. Van ECK Associates Corp owned 1.36% of Cactus worth $63,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WHD. Weiss Asset Management LP bought a new stake in shares of Cactus in the 3rd quarter worth approximately $13,647,000. Bridgewater Associates LP acquired a new stake in shares of Cactus during the third quarter valued at approximately $9,501,000. Assenagon Asset Management S.A. raised its holdings in shares of Cactus by 394.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock valued at $9,338,000 after acquiring an additional 127,614 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cactus by 6.5% during the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock valued at $104,934,000 after acquiring an additional 106,819 shares during the period. Finally, Barclays PLC raised its holdings in shares of Cactus by 429.4% during the third quarter. Barclays PLC now owns 123,562 shares of the company’s stock valued at $7,373,000 after acquiring an additional 100,223 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Insider Activity at Cactus

In related news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Barclays lowered 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Cactus currently has a consensus rating of “Hold” and a consensus target price of $56.40.

Cactus Stock Up 1.8 %

WHD stock opened at $60.11 on Friday. The company’s 50 day simple moving average is $60.68 and its 200-day simple moving average is $61.21. Cactus, Inc. has a 52-week low of $42.52 and a 52-week high of $70.01. The firm has a market capitalization of $4.78 billion, a P/E ratio of 21.32, a P/E/G ratio of 5.14 and a beta of 1.97. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s payout ratio is presently 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.