State of Alaska Department of Revenue Increases Stock Position in Cactus, Inc. $WHD

State of Alaska Department of Revenue lifted its holdings in Cactus, Inc. (NYSE:WHD) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,783 shares of the company’s stock after purchasing an additional 3,849 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Cactus worth $1,782,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WHD. Millennium Management LLC purchased a new stake in shares of Cactus in the 1st quarter worth approximately $28,924,000. Encompass Capital Advisors LLC purchased a new stake in shares of Cactus in the 1st quarter worth approximately $27,457,000. Pacer Advisors Inc. lifted its position in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company’s stock worth $20,993,000 after purchasing an additional 453,519 shares during the period. Nuveen LLC purchased a new stake in shares of Cactus in the 1st quarter worth approximately $11,494,000. Finally, Alliancebernstein L.P. lifted its position in shares of Cactus by 31.5% in the 1st quarter. Alliancebernstein L.P. now owns 868,409 shares of the company’s stock worth $39,799,000 after purchasing an additional 208,172 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Wall Street Zen raised shares of Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Barclays reissued an “overweight” rating and set a $52.00 target price (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Saturday, September 27th. Finally, Stifel Nicolaus decreased their target price on shares of Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.75.

Insider Buying and Selling at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares in the company, valued at $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.75% of the stock is owned by insiders.

Cactus Trading Down 1.6%

Shares of Cactus stock opened at $37.60 on Friday. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 3.61 and a beta of 1.48. The firm’s 50 day simple moving average is $40.84 and its two-hundred day simple moving average is $42.07.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were paid a $0.14 dividend. The ex-dividend date was Friday, August 29th. This is an increase from Cactus’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Cactus’s dividend payout ratio (DPR) is currently 21.13%.

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.