Cactus, Inc. $WHD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in Cactus, Inc. (NYSE:WHD) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,588,892 shares of the company’s stock after selling 35,127 shares during the period. JPMorgan Chase & Co. owned approximately 3.24% of Cactus worth $102,184,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WHD. Vest Financial LLC grew its stake in Cactus by 35.3% during the 3rd quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock worth $4,259,000 after purchasing an additional 28,139 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in shares of Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock valued at $1,120,000 after buying an additional 20,258 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cactus in the 3rd quarter valued at about $1,872,000. AGF Management Ltd. acquired a new position in shares of Cactus during the second quarter worth about $672,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Cactus during the third quarter worth approximately $525,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Trading Down 0.6%

NYSE:WHD opened at $58.41 on Monday. The company has a market capitalization of $4.66 billion, a PE ratio of 23.27, a P/E/G ratio of 5.97 and a beta of 1.27. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $60.45. The stock’s 50 day moving average price is $52.20 and its 200 day moving average price is $44.81. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be given a $0.14 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio is 22.31%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and increased their target price for the company from $39.00 to $40.00 in a report on Wednesday, October 29th. Citigroup raised Cactus from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $55.00 in a report on Thursday, December 11th. Stifel Nicolaus increased their price objective on Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Barclays raised their target price on Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Cactus has an average rating of “Hold” and a consensus target price of $50.20.

Cactus Company Profile

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.