Bank of New York Mellon Corp Sells 200,998 Shares of Cactus, Inc. (NYSE:WHD)

Bank of New York Mellon Corp lessened its position in Cactus, Inc. (NYSE:WHD) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,180,783 shares of the company’s stock after selling 200,998 shares during the quarter. Bank of New York Mellon Corp owned 1.48% of Cactus worth $68,911,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new stake in Cactus in the 3rd quarter worth about $13,647,000. Bridgewater Associates LP purchased a new stake in shares of Cactus in the third quarter worth approximately $9,501,000. Assenagon Asset Management S.A. raised its holdings in shares of Cactus by 394.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock worth $9,338,000 after buying an additional 127,614 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cactus by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock worth $104,934,000 after acquiring an additional 106,819 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Cactus by 429.4% during the 3rd quarter. Barclays PLC now owns 123,562 shares of the company’s stock valued at $7,373,000 after acquiring an additional 100,223 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Down 4.3 %

Shares of NYSE WHD opened at $50.30 on Tuesday. Cactus, Inc. has a 52-week low of $44.57 and a 52-week high of $70.01. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 5.13 and a beta of 1.97. The stock has a 50 day moving average price of $59.83 and a 200 day moving average price of $61.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Sell-side analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s payout ratio is 18.84%.

Analyst Ratings Changes

Separately, Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.40.

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.