The Manufacturers Life Insurance Company Sells 427 Shares of Cactus, Inc. (NYSE:WHD)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,133 shares of the company’s stock after selling 427 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cactus were worth $2,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oarsman Capital Inc. bought a new position in shares of Cactus during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in Cactus by 74.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after buying an additional 223 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after acquiring an additional 337 shares during the period. Meeder Asset Management Inc. acquired a new position in Cactus in the 4th quarter valued at $76,000. Finally, AlphaQuest LLC lifted its position in shares of Cactus by 202.5% during the 4th quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock valued at $100,000 after acquiring an additional 1,142 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Ratings Changes

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

Cactus Stock Performance

NYSE WHD opened at $41.94 on Friday. The firm’s fifty day moving average price is $41.64 and its two-hundred day moving average price is $54.59. The stock has a market cap of $3.34 billion, a PE ratio of 14.87, a PEG ratio of 5.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $272.22 million. During the same period last year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.24%. Cactus’s dividend payout ratio (DPR) is presently 18.51%.

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.