Cactus, Inc. (NYSE:WHD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Cactus, Inc. (NYSE:WHD) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,521,249 shares of the company’s stock after selling 467,572 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cactus were worth $80,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WHD. First Trust Advisors LP lifted its holdings in Cactus by 595.4% during the 4th quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after buying an additional 584,831 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock worth $23,309,000 after purchasing an additional 498,536 shares during the last quarter. Norges Bank purchased a new stake in Cactus during the fourth quarter worth approximately $20,204,000. Wasatch Advisors LP boosted its holdings in Cactus by 39.1% in the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after purchasing an additional 375,829 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Cactus by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock valued at $295,947,000 after purchasing an additional 148,355 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WHD. Piper Sandler reduced their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Citigroup boosted their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Cactus in a report on Monday, May 6th. Barclays boosted their target price on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Cactus Price Performance

Shares of WHD opened at $59.96 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The firm has a 50-day simple moving average of $57.08 and a 200-day simple moving average of $52.02. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.98.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million during the quarter, compared to the consensus estimate of $276.76 million. During the same period in the prior year, the business earned $0.84 EPS. The firm’s revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cactus, Inc. will post 3.03 earnings per share for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.87%. This is a positive change from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 26th. Cactus’s dividend payout ratio (DPR) is 20.72%.

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.