Maryland State Retirement & Pension System Has $880,000 Stock Position in Cactus, Inc. $WHD

Maryland State Retirement & Pension System grew its stake in shares of Cactus, Inc. (NYSE:WHD) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,120 shares of the company’s stock after purchasing an additional 649 shares during the period. Maryland State Retirement & Pension System’s holdings in Cactus were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings in shares of Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cactus during the first quarter worth about $57,000. Financial Harvest LLC bought a new stake in shares of Cactus during the first quarter worth about $130,000. KBC Group NV increased its position in shares of Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after acquiring an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Cactus by 21.4% during the second quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock worth $190,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the transaction, the executive vice president directly owned 11,088 shares of the company’s stock, valued at $458,156.16. This represents a 47.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Stifel Nicolaus decreased their target price on shares of Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Barclays reissued an “overweight” rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.75.

Cactus Trading Down 7.5%

Shares of WHD stock opened at $33.27 on Monday. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The company has a 50-day simple moving average of $39.94 and a two-hundred day simple moving average of $41.63. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.15 and a beta of 1.48.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm had revenue of $273.58 million during the quarter, compared to the consensus estimate of $280.28 million. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Cactus’s previous quarterly dividend of $0.13. Cactus’s payout ratio is currently 21.13%.

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.