Bank of New York Mellon Corp Cuts Position in Cactus, Inc. $WHD

Bank of New York Mellon Corp decreased its holdings in Cactus, Inc. (NYSE:WHD) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 692,483 shares of the company’s stock after selling 40,275 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Cactus worth $32,803,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WHD. Johnson Financial Group Inc. acquired a new position in Cactus during the third quarter worth $33,000. Aster Capital Management DIFC Ltd increased its stake in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Cactus by 335.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,710 shares of the company’s stock worth $78,000 after purchasing an additional 1,317 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of WHD stock opened at $55.00 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The company has a market capitalization of $4.41 billion, a PE ratio of 51.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38. The firm’s 50-day moving average is $55.94 and its two-hundred day moving average is $54.10. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS. Analysts predict that Cactus, Inc. will post 2.92 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is 52.83%.

Insider Buying and Selling at Cactus

In other Cactus news, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the completion of the sale, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This trade represents a 25.74% 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. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WHD has been the subject of several recent research reports. Barclays increased their price objective on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Piper Sandler lifted their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Citigroup increased their target price on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.60.

Cactus 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.