Bank of New York Mellon Corp Decreases Stock Holdings in Cactus, Inc. (NYSE:WHD)

Bank of New York Mellon Corp lowered its position in Cactus, Inc. (NYSE:WHD) by 45.3% during the 1st quarter, HoldingsChannel reports. The fund owned 645,894 shares of the company’s stock after selling 534,889 shares during the period. Bank of New York Mellon Corp’s holdings in Cactus were worth $29,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WHD. Principal Financial Group Inc. increased its stake in Cactus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company’s stock worth $16,750,000 after buying an additional 8,164 shares during the period. KBC Group NV increased its stake in Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after buying an additional 360 shares during the period. SG Americas Securities LLC increased its stake in Cactus by 535.8% in the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company’s stock worth $661,000 after buying an additional 12,146 shares during the period. Emerald Advisers LLC increased its stake in Cactus by 20.6% in the 4th quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock worth $17,935,000 after buying an additional 52,552 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Cactus in the 4th quarter worth about $16,377,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on WHD shares. Stifel Nicolaus reduced their price target on shares of Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays reduced their price target on shares of Cactus from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th.

Cactus Stock Down 2.7%

Shares of Cactus stock opened at $43.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01. The firm’s 50-day moving average is $44.04 and its two-hundred day moving average is $48.37. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 3.83 and a beta of 1.48.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The company had revenue of $280.32 million for the quarter, compared to analysts’ expectations of $272.22 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. Cactus’s dividend payout ratio is currently 18.51%.

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.