Cactus, Inc. $WHD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,483 shares of the company’s stock after selling 40,275 shares during the period. Bank of New York Mellon Corp’s holdings in Cactus were worth $32,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Cactus in the 3rd quarter valued at $33,000. Aster Capital Management DIFC Ltd boosted its holdings in Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after acquiring an additional 314 shares during the period. Advisors Asset Management Inc. boosted its holdings in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares during the period. Global Retirement Partners LLC grew its position in Cactus by 39,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after acquiring an additional 1,176 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Cactus by 335.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,710 shares of the company’s stock valued at $78,000 after acquiring an additional 1,317 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the firm’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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Semple sold 10,206 shares of Cactus 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 sale, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.91% of the company’s stock.

Cactus Stock Performance

Shares of WHD opened at $55.00 on Monday. The stock has a 50-day simple moving average of $55.94 and a 200-day simple moving average of $54.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. The stock has a market capitalization of $4.41 billion, a PE ratio of 51.89, a PEG ratio of 2.08 and a beta of 1.38. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $64.30.

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

Cactus Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WHD. Barclays increased their price target on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup lifted their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Piper Sandler upped 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 reiterated 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. Finally, Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.60.

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.