Bank of America Corp DE Lowers Holdings in Cactus, Inc. (NYSE:WHD)

Bank of America Corp DE trimmed its holdings in Cactus, Inc. (NYSE:WHD) by 12.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 511,813 shares of the company’s stock after selling 74,340 shares during the period. Bank of America Corp DE’s holdings in Cactus were worth $29,869,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Illinois Municipal Retirement Fund lifted its position in shares of Cactus by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 37,412 shares of the company’s stock valued at $2,183,000 after acquiring an additional 169 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Cactus by 0.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company’s stock valued at $2,091,000 after acquiring an additional 177 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Cactus by 1.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company’s stock valued at $606,000 after acquiring an additional 180 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Cactus by 1.3% in the fourth quarter. New York State Teachers Retirement System now owns 15,700 shares of the company’s stock valued at $916,000 after acquiring an additional 200 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Cactus by 7.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,369 shares of the company’s stock valued at $197,000 after acquiring an additional 221 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Trading Down 0.6%

Shares of WHD stock opened at $43.58 on Friday. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $41.36 and its 200-day moving average price is $54.11. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50.

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 return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $280.32 million for the quarter, compared to analysts’ expectations of $272.22 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. Cactus’s dividend payout ratio (DPR) is 18.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WHD shares. Barclays lowered their price objective on Cactus from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. Stifel Nicolaus lowered their price objective on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Cactus from $54.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Cactus has an average rating of “Hold” and an average price target of $52.33.

Cactus 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.