Bank of America Corp DE Sells 74,340 Shares of Cactus, Inc. (NYSE:WHD)

Bank of America Corp DE lessened its stake in shares of Cactus, Inc. (NYSE:WHD) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,813 shares of the company’s stock after selling 74,340 shares during the period. Bank of America Corp DE owned approximately 0.64% of Cactus worth $29,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund increased its position in Cactus by 0.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 37,412 shares of the company’s stock valued at $2,183,000 after buying an additional 169 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in Cactus by 0.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company’s stock valued at $2,091,000 after purchasing an additional 177 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Cactus by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company’s stock valued at $606,000 after purchasing an additional 180 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Cactus by 1.3% during the 4th quarter. New York State Teachers Retirement System now owns 15,700 shares of the company’s stock valued at $916,000 after purchasing an additional 200 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Cactus by 7.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,369 shares of the company’s stock valued at $197,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WHD. Stifel Nicolaus cut their target price on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays cut their target price on Cactus from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on Cactus from $54.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.33.

Cactus Stock Performance

WHD stock opened at $43.58 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The stock’s fifty day moving average price is $41.36 and its 200-day moving average price is $54.11.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. On average, equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. Cactus’s dividend payout ratio (DPR) is currently 18.51%.

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.