Arizona State Retirement System Decreases Stake in Cactus, Inc. (NYSE:WHD)

Arizona State Retirement System lowered its holdings in Cactus, Inc. (NYSE:WHD) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,062 shares of the company’s stock after selling 313 shares during the quarter. Arizona State Retirement System’s holdings in Cactus were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in shares of Cactus by 198.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after purchasing an additional 138,294 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Cactus by 43.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 412,220 shares of the company’s stock valued at $18,715,000 after acquiring an additional 124,620 shares during the last quarter. Vest Financial LLC purchased a new stake in Cactus during the fourth quarter valued at $246,000. Dfpg Investments LLC increased its position in Cactus by 14.5% during the fourth quarter. Dfpg Investments LLC now owns 5,676 shares of the company’s stock valued at $254,000 after acquiring an additional 718 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Cactus by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,370,309 shares of the company’s stock valued at $319,853,000 after acquiring an additional 23,018 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Transactions at Cactus

In other news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the transaction, the executive vice president now owns 3,911 shares of the company’s stock, valued at $180,688.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the transaction, the chief executive officer now directly owns 20 shares of the company’s stock, valued at $915.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William D. Marsh sold 1,700 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. Corporate insiders own 16.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WHD shares. Bank of America upped their price objective on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday. Stifel Nicolaus reduced their price objective on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, January 3rd. Finally, Benchmark cut Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and a consensus price target of $55.29.

Cactus Stock Performance

NYSE WHD opened at $49.40 on Thursday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 8.53 and a beta of 1.96. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $47.68 and a 200-day moving average price of $45.44. Cactus, Inc. has a twelve month low of $31.36 and a twelve month high of $57.00.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $274.87 million during the quarter, compared to analyst estimates of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. As a group, equities research analysts predict that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, February 23rd. Cactus’s dividend payout ratio (DPR) is 18.82%.

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.