Wellington Management Group LLP Has $134 Million Stock Position in Cactus, Inc. $WHD

Wellington Management Group LLP reduced its holdings in Cactus, Inc. (NYSE:WHD) by 8.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,615,629 shares of the company’s stock after selling 249,797 shares during the period. Wellington Management Group LLP’s holdings in Cactus were worth $133,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares during the last quarter. AQR Capital Management LLC raised its stake in Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cactus by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares during the period. United Services Automobile Association bought a new stake in Cactus in the 1st quarter valued at $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cactus by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock worth $10,400,000 after purchasing an additional 46,835 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Trading Up 0.7%

Shares of Cactus stock opened at $70.17 on Tuesday. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $74.07. The firm has a market capitalization of $5.63 billion, a PE ratio of 59.97, a price-to-earnings-growth ratio of 2.46 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The company’s fifty day moving average price is $60.33 and its two-hundred day moving average price is $56.46.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 64.3% compared to the same quarter last year. On average, analysts expect that Cactus, Inc. will post 3.12 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.15 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio is 47.86%.

Insider Buying and Selling at Cactus

In other news, President Joel Bender sold 86,700 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $57.62, for a total value of $4,995,654.00. Following the completion of the transaction, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,392,324.78. This represents a 67.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven Bender sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the transaction, the chief executive officer owned 99,241 shares of the company’s stock, valued at $6,713,653.65. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 263,455 shares of company stock worth $16,261,764 in the last three months. 12.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WHD. Barclays boosted their price objective on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Stifel Nicolaus lifted their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Citigroup cut Cactus from a “buy” rating to a “neutral” rating and upped their price target for the company from $67.00 to $75.00 in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.80.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.