Cactus, Inc. $WHD Holdings Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Cactus, Inc. (NYSE:WHD) by 51.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,858 shares of the company’s stock after selling 10,262 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cactus were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. VELA Investment Management LLC grew its stake in shares of Cactus by 79.6% in the second quarter. VELA Investment Management LLC now owns 115,440 shares of the company’s stock worth $5,047,000 after purchasing an additional 51,158 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of Cactus during the second quarter valued at about $672,000. Campbell & CO Investment Adviser LLC acquired a new stake in Cactus in the third quarter worth about $1,872,000. Hunter Perkins Capital Management LLC acquired a new stake in Cactus in the second quarter worth about $462,000. Finally, Allspring Global Investments Holdings LLC grew its position in Cactus by 30.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 241,828 shares of the company’s stock valued at $10,899,000 after buying an additional 55,968 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Performance

Shares of NYSE WHD opened at $53.53 on Friday. The stock’s fifty day simple moving average is $46.79 and its 200 day simple moving average is $43.02. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 5.62 and a beta of 1.26. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.23.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. The firm 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%.Cactus’s revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, December 1st. Cactus’s dividend payout ratio is 22.31%.

Analyst Ratings Changes

Several research firms have recently issued reports on WHD. Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and increased their price objective for the company from $45.00 to $55.00 in a report on Thursday, December 11th. Zacks Research raised Cactus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Bank of America raised 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 note on Wednesday, October 29th. Barclays upped their price objective on Cactus from $51.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.20.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.