State of New Jersey Common Pension Fund D Purchases 12,370 Shares of Cactus, Inc. $WHD

State of New Jersey Common Pension Fund D raised its position in Cactus, Inc. (NYSE:WHD) by 37.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,450 shares of the company’s stock after buying an additional 12,370 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Cactus worth $1,987,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cactus in the first quarter valued at $57,000. Financial Harvest LLC bought a new stake in shares of Cactus in the first quarter valued at $130,000. CWM LLC raised its stake in shares of Cactus by 131.7% in the second quarter. CWM LLC now owns 2,966 shares of the company’s stock valued at $130,000 after buying an additional 1,686 shares during the period. Finally, KBC Group NV raised its stake in shares of Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock valued at $155,000 after buying an additional 360 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares of the company’s stock, valued at $458,156.16. This trade represents a 47.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on WHD. Zacks Research lowered Cactus from a “hold” rating to a “strong sell” rating in a research note on Monday, September 8th. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $39.00 to $40.00 in a research note on Wednesday. Barclays reiterated an “overweight” rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.75.

Cactus Stock Performance

NYSE:WHD opened at $43.17 on Friday. The business’s 50-day moving average price is $39.58 and its two-hundred day moving average price is $41.42. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $70.01. The stock has a market cap of $3.45 billion, a P/E ratio of 17.20, a PEG ratio of 4.02 and a beta of 1.48. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.09. Cactus had a return on equity of 16.29% and a net margin of 15.86%.The firm had revenue of $263.95 million for the quarter, compared to analysts’ expectations of $253.89 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. As a group, equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. Cactus’s dividend payout ratio (DPR) is presently 22.31%.

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.