Bank of New York Mellon Corp Cuts Stake in Cactus, Inc. (NYSE:WHD)

Bank of New York Mellon Corp lowered its position in Cactus, Inc. (NYSE:WHD) by 45.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,894 shares of the company’s stock after selling 534,889 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Cactus worth $29,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Cactus by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock valued at $448,247,000 after acquiring an additional 147,395 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cactus by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company’s stock valued at $105,308,000 after acquiring an additional 45,821 shares in the last quarter. Capital International Investors boosted its holdings in Cactus by 14.8% in the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company’s stock valued at $98,445,000 after acquiring an additional 218,004 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cactus by 34.6% in the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock valued at $90,841,000 after acquiring an additional 400,452 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cactus by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company’s stock valued at $72,271,000 after buying an additional 43,237 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on WHD shares. Stifel Nicolaus lowered their price objective on Cactus from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Barclays lowered their price objective on Cactus from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Cactus from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th.

Cactus Price Performance

WHD opened at $43.35 on Wednesday. The stock has a 50-day moving average price of $44.04 and a 200-day moving average price of $48.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. The firm has a market cap of $3.46 billion, a PE ratio of 15.43, a P/E/G ratio of 3.83 and a beta of 1.48. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The business had revenue of $280.32 million during the quarter, compared to analyst estimates of $272.22 million. During the same quarter in the previous year, the firm earned $0.75 EPS. Cactus’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. Cactus’s dividend payout ratio (DPR) is presently 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.