State of New Jersey Common Pension Fund D Sells 4,866 Shares of Cactus, Inc. (NYSE:WHD)

State of New Jersey Common Pension Fund D reduced its stake in Cactus, Inc. (NYSE:WHD) by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New York State Teachers Retirement System grew its stake in shares of Cactus by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock worth $925,000 after acquiring an additional 200 shares during the period. Dana Investment Advisors Inc. raised its holdings in shares of Cactus by 0.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock valued at $1,678,000 after buying an additional 202 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after buying an additional 307 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after buying an additional 340 shares in the last quarter. Finally, Arizona State Retirement System increased its stake 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 purchasing an additional 585 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Cactus Stock Performance

NYSE WHD opened at $64.36 on Monday. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 3.05 and a beta of 1.95. Cactus, Inc. has a twelve month low of $37.58 and a twelve 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 has a 50-day moving average of $61.24 and a 200 day moving average of $56.95.

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

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is 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.