Maryland State Retirement & Pension System Purchases 649 Shares of Cactus, Inc. $WHD

Maryland State Retirement & Pension System boosted its position in Cactus, Inc. (NYSE:WHD) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,120 shares of the company’s stock after acquiring an additional 649 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cactus were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cactus by 5.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company’s stock worth $300,000 after buying an additional 269 shares during the last quarter. Xponance Inc. grew its stake in shares of Cactus by 5.7% during the first quarter. Xponance Inc. now owns 5,405 shares of the company’s stock worth $248,000 after buying an additional 291 shares during the last quarter. KBC Group NV lifted its holdings 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 purchasing an additional 360 shares during the period. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Cactus by 2.7% during the first quarter. Alliance Wealth Advisors LLC UT now owns 15,472 shares of the company’s stock worth $709,000 after purchasing an additional 412 shares during the period. Finally, Advisors Asset Management Inc. lifted 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 worth $47,000 after purchasing an additional 543 shares during the period. Institutional investors 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 company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.75% of the company’s stock.

Analysts Set New Price Targets

WHD has been the topic of a number of recent research reports. Barclays reiterated an “overweight” rating and set a $52.00 price target (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Zacks Research lowered shares of Cactus from a “hold” rating to a “strong sell” rating in a report on Monday, September 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Stifel Nicolaus cut their price target on shares of Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.75.

Cactus Price Performance

WHD stock opened at $33.27 on Monday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.15 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, Inc. has a 12-month low of $33.20 and a 12-month high of $70.01. The company’s fifty day simple moving average is $39.94 and its 200 day simple moving average is $41.63.

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

Cactus Increases Dividend

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

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.