Boston Trust Walden Corp Sells 372,198 Shares of Cactus, Inc. $WHD

Boston Trust Walden Corp decreased its holdings in shares of Cactus, Inc. (NYSE:WHD) by 23.2% in the second quarter, HoldingsChannel reports. The fund owned 1,234,750 shares of the company’s stock after selling 372,198 shares during the quarter. Boston Trust Walden Corp’s holdings in Cactus were worth $53,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Cactus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company’s stock valued at $16,750,000 after purchasing an additional 8,164 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Cactus by 482.7% in the first quarter. Jane Street Group LLC now owns 238,879 shares of the company’s stock worth $10,948,000 after buying an additional 197,887 shares during the period. KBC Group NV lifted its position in shares of Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company’s stock valued at $155,000 after buying an additional 360 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Cactus by 535.8% during the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company’s stock valued at $661,000 after acquiring an additional 12,146 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Cactus in the 1st quarter worth approximately $376,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WHD has been the topic of several analyst reports. Wall Street Zen raised shares of Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Zacks Research cut shares of Cactus from a “hold” rating to a “strong sell” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Wednesday, October 8th. Barclays reiterated an “overweight” rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, Stifel Nicolaus lowered their price objective on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cactus currently has a consensus rating of “Hold” and an average target price of $51.67.

Cactus Stock Performance

NYSE:WHD opened at $35.05 on Tuesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 3.15 and a beta of 1.48. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $70.01. The stock’s 50 day simple moving average is $39.85 and its two-hundred day simple moving average is $41.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $273.58 million during the quarter, compared to analysts’ expectations of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. As a group, equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. This is a positive change from Cactus’s previous quarterly dividend of $0.13. Cactus’s dividend payout ratio is currently 21.13%.

Insider Activity at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of Cactus stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the transaction, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.84% of the company’s stock.

About Cactus

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.