State of New Jersey Common Pension Fund D Grows Position in Cactus, Inc. $WHD

State of New Jersey Common Pension Fund D raised its holdings in Cactus, Inc. (NYSE:WHD) by 37.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 45,450 shares of the company’s stock after acquiring an additional 12,370 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cactus in the 1st quarter worth about $57,000. Financial Harvest LLC purchased a new position in shares of Cactus in the 1st quarter worth about $130,000. CWM LLC boosted its holdings in shares of Cactus by 131.7% in the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,686 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after purchasing an additional 360 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction that occurred 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 owned 11,088 shares in the company, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.75% of the company’s stock.

Cactus Price Performance

Shares of Cactus stock opened at $43.17 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 business’s 50 day simple moving average is $39.58 and its two-hundred day simple moving average is $41.42. The stock has a market capitalization of $3.45 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 4.02 and a beta of 1.48. Cactus, Inc. has a one year low of $33.20 and a one year high of $70.01.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. The business had revenue of $263.95 million for the quarter, compared to analysts’ expectations of $253.89 million. Cactus had a return on equity of 16.29% and a net margin of 15.86%.The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 1st will be issued a $0.14 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.56 annualized dividend and a yield of 1.3%. Cactus’s dividend payout ratio (DPR) is 22.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WHD shares. Zacks Research cut Cactus from a “hold” rating to a “strong sell” rating in a report on Monday, September 8th. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $39.00 to $40.00 in a report on Wednesday. Barclays reiterated an “overweight” rating and issued a $52.00 price objective (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cactus in a report on Thursday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cactus has an average rating of “Hold” and a consensus price target of $48.75.

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.