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

Key Points

• Boston Trust Walden Corp has reduced its stake in Cactus, Inc. by 23.2%, selling 372,198 shares in the 2nd quarter, leaving it with a total of 1,234,750 shares valued at approximately $53,983,000.
• Cactus has reported earnings per share (EPS) of $0.66, falling short of analysts' expectations, while revenue decreased by 5.8% year-over-year.
• The company recently increased its quarterly dividend to $0.14, representing a 1.6% dividend yield based on an annualized basis.

Boston Trust Walden Corp cut its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 23.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,234,750 shares of the company's stock after selling 372,198 shares during the period. Boston Trust Walden Corp owned 1.55% of Cactus worth $53,983,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Millennium Management LLC bought a new stake in shares of Cactus during the first quarter valued at approximately $28,924,000. Encompass Capital Advisors LLC purchased a new position in Cactus during the first quarter valued at $27,457,000. Pacer Advisors Inc. boosted its holdings in shares of Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after buying an additional 453,519 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Cactus in the 2nd quarter worth about $11,273,000. Finally, Nuveen LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $11,494,000. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WHD. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Barclays reissued an "overweight" rating and issued a $52.00 price target (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Stifel Nicolaus reduced their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Cactus in a report on Wednesday, October 8th. Finally, Zacks Research cut Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $51.67.

Insider Activity at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the sale, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.84% of the stock is owned by insiders.

Cactus Price Performance

NYSE WHD opened at $35.05 on Tuesday. Cactus, Inc. has a one year low of $33.20 and a one year high of $70.01. The stock has a 50-day moving average of $39.85 and a 200 day moving average of $41.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The company has a market capitalization 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 (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million during the quarter, compared to the consensus estimate of $280.28 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were paid a $0.14 dividend. This is an increase from Cactus's previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.6%. Cactus's dividend payout ratio (DPR) is 21.13%.

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.

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