Cactus, Inc. $WHD Stock Holdings Trimmed by Strs Ohio

Strs Ohio reduced its stake in Cactus, Inc. (NYSE:WHD) by 39.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,000 shares of the company’s stock after selling 44,800 shares during the period. Strs Ohio owned 0.09% of Cactus worth $3,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in Cactus by 7.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company’s stock valued at $135,100,000 after acquiring an additional 195,496 shares during the period. Wellington Management Group LLP boosted its stake in Cactus by 12.1% in the first quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company’s stock valued at $69,116,000 after acquiring an additional 162,374 shares during the period. Alliancebernstein L.P. boosted its stake in Cactus by 31.5% in the first quarter. Alliancebernstein L.P. now owns 868,409 shares of the company’s stock valued at $39,799,000 after acquiring an additional 208,172 shares during the period. Jennison Associates LLC boosted its stake in Cactus by 24.5% in the second quarter. Jennison Associates LLC now owns 633,002 shares of the company’s stock valued at $27,675,000 after acquiring an additional 124,558 shares during the period. Finally, Millennium Management LLC acquired a new position in Cactus in the first quarter valued at approximately $28,924,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Performance

WHD opened at $44.30 on Tuesday. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 9.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.28 and a quick ratio of 3.74. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $70.01. The business has a 50 day moving average price of $39.67 and a two-hundred day moving average price of $41.59.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $263.95 million for the quarter, compared to analysts’ expectations of $253.89 million. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The firm’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared 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 of this dividend is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. Cactus’s dividend payout ratio is currently 22.31%.

Insider Activity

In other Cactus 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 value of $420,307.04. Following the transaction, the executive vice president owned 11,088 shares of the company’s stock, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on WHD. Barclays decreased their target price on Cactus from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Cactus in a research note on Thursday, October 30th. Stifel Nicolaus boosted their price objective on Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research downgraded Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Finally, Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cactus presently has an average rating of “Hold” and a consensus price target of $47.75.

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.