Van ECK Associates Corp Acquires 68,718 Shares of Cactus, Inc. (NYSE:WHD)

Van ECK Associates Corp grew its holdings in Cactus, Inc. (NYSE:WHD) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,082,658 shares of the company’s stock after purchasing an additional 68,718 shares during the quarter. Van ECK Associates Corp’s holdings in Cactus were worth $63,184,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after buying an additional 52,085 shares during the period. State Street Corp boosted its holdings in shares of Cactus by 3.0% during the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company’s stock worth $164,436,000 after buying an additional 81,149 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Cactus by 0.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company’s stock worth $104,901,000 after buying an additional 9,884 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cactus by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock worth $104,934,000 after buying an additional 106,819 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cactus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock worth $45,453,000 after buying an additional 28,663 shares during the period. 85.11% of the stock is owned by institutional investors.

Insider Activity at Cactus

In related news, Director Bruce M. Rothstein sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 12,177 shares in the company, valued at $794,183.94. This represents a 29.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.72% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.40.

Cactus Price Performance

NYSE:WHD opened at $60.11 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of 21.32, a PEG ratio of 5.14 and a beta of 1.97. Cactus, Inc. has a one year low of $42.52 and a one year high of $70.01. The company has a fifty day moving average price of $60.68 and a 200 day moving average price of $61.21. 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 announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s payout ratio is currently 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.