Arizona State Retirement System Cuts Position in Cactus, Inc. (NYSE:WHD)

Arizona State Retirement System lessened its holdings in Cactus, Inc. (NYSE:WHD) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,062 shares of the company’s stock after selling 313 shares during the quarter. Arizona State Retirement System’s holdings in Cactus were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WHD. PNC Financial Services Group Inc. increased its stake in shares of Cactus by 70.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock valued at $172,000 after purchasing an additional 1,247 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Cactus by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 30,390 shares of the company’s stock worth $1,724,000 after buying an additional 10,813 shares during the last quarter. BlackRock Inc. boosted its holdings in Cactus by 2.4% in the 1st quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock worth $226,236,000 after buying an additional 94,603 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Cactus in the 1st quarter worth about $268,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Cactus by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,570 shares of the company’s stock worth $53,933,000 after buying an additional 10,327 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, January 3rd. Benchmark cut Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Bank of America lifted their price objective on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.29.

Cactus Trading Down 1.1 %

Shares of Cactus stock opened at $49.40 on Thursday. The stock has a market cap of $3.92 billion, a P/E ratio of 19.37, a P/E/G ratio of 8.53 and a beta of 1.96. The stock’s 50 day simple moving average is $47.68 and its 200-day simple moving average is $45.44. Cactus, Inc. has a 1-year low of $31.36 and a 1-year high of $57.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 2.00.

Cactus (NYSE:WHD) last issued its earnings results on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $274.87 million for the quarter, compared to analysts’ expectations of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Analysts predict that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 23rd. Cactus’s payout ratio is presently 18.82%.

Insider Activity

In other news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the sale, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The disclosure for this sale can be found here. Corporate insiders own 16.84% of the company’s stock.

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.