Novem Group Takes Position in Cactus, Inc. $WHD

Key Points

• Novem Group has acquired a new stake in Cactus, Inc. during Q2, purchasing 21,170 shares valued at approximately $926,000.
• Insider trading was reported as EVP William D. Marsh sold 10,172 shares for about $420,307, resulting in nearly a 48% decrease in his ownership of the stock.
• Zacks Research downgraded Cactus from a "hold" rating to a "strong sell," while Barclays and Stifel Nicolaus maintained positive outlooks with target prices of $52.00 and $53.00 respectively.

Novem Group bought a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,170 shares of the company's stock, valued at approximately $926,000.

Several other large investors have also made changes to their positions in the company. Congress Asset Management Co. grew its stake in shares of Cactus by 8.9% in the 2nd quarter. Congress Asset Management Co. now owns 351,043 shares of the company's stock valued at $15,348,000 after buying an additional 28,576 shares in the last quarter. Norden Group LLC boosted its position in shares of Cactus by 15.3% in the second quarter. Norden Group LLC now owns 7,940 shares of the company's stock valued at $347,000 after acquiring an additional 1,056 shares during the period. Marshall Financial Group LLC bought a new stake in shares of Cactus in the second quarter valued at approximately $940,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Cactus in the second quarter valued at approximately $306,000. Finally, Central Pacific Bank Trust Division boosted its position in shares of Cactus by 21.4% in the second quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company's stock valued at $190,000 after acquiring an additional 766 shares during the period. Institutional investors own 85.11% of the company's stock.

Insider Buying and Selling at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.75% of the company's stock.

Wall Street Analyst Weigh In

WHD has been the subject of several research reports. Zacks Research cut Cactus from a "hold" rating to a "strong sell" rating in a research report on Monday, September 8th. Barclays restated an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus cut their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.75.

Cactus Stock Performance

Cactus stock opened at $41.51 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The stock has a fifty day moving average price of $41.45 and a two-hundred day moving average price of $42.27. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The firm has a market capitalization of $3.31 billion, a P/E ratio of 15.67, a P/E/G ratio of 3.85 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. As a group, analysts anticipate that Cactus, Inc. will post 3.08 EPS 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 paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 29th. Cactus's dividend payout ratio 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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