Cactus, Inc. (NYSE:WHD) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Cactus, Inc. (NYSE:WHD) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,571 shares of the company’s stock after selling 4,866 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,944,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System lifted its position in Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock worth $925,000 after buying an additional 200 shares in the last quarter. Dana Investment Advisors Inc. lifted its position in Cactus by 0.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock worth $1,678,000 after buying an additional 202 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after buying an additional 307 shares in the last quarter. GAMMA Investing LLC lifted its position in Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after buying an additional 340 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Cactus by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock worth $967,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on WHD shares. Stifel Nicolaus lowered their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research report on Monday, November 4th. Finally, Bank of America raised their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.40.

Insider Activity

In other news, COO Steven Bender sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. This represents a 63.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.71% of the stock is currently owned by company insiders.

Cactus Price Performance

NYSE:WHD opened at $64.36 on Monday. 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, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 3.05 and a beta of 1.95. The firm’s 50-day simple moving average is $61.24 and its 200 day simple moving average is $56.95.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same period last year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. Cactus’s dividend payout ratio (DPR) is currently 18.44%.

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.