Bank of America Corp DE Has $29.87 Million Stake in Cactus, Inc. (NYSE:WHD)

Bank of America Corp DE reduced its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,813 shares of the company's stock after selling 74,340 shares during the period. Bank of America Corp DE owned approximately 0.64% of Cactus worth $29,869,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in Cactus by 0.8% in the 4th quarter. Ameriprise Financial Inc. now owns 292,946 shares of the company's stock worth $17,096,000 after buying an additional 2,238 shares during the period. Alyeska Investment Group L.P. bought a new position in Cactus in the 4th quarter worth approximately $292,000. Emerald Mutual Fund Advisers Trust increased its position in Cactus by 13.5% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 153,154 shares of the company's stock worth $8,938,000 after buying an additional 18,183 shares during the period. Northern Trust Corp increased its position in shares of Cactus by 10.4% during the fourth quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after purchasing an additional 68,473 shares during the period. Finally, Tudor Investment Corp ET AL increased its position in shares of Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock valued at $16,473,000 after purchasing an additional 234,191 shares during the period. 85.11% of the stock is owned by institutional investors.

Cactus Stock Performance

Shares of WHD traded up $0.10 on Friday, reaching $41.54. 740,547 shares of the stock traded hands, compared to its average volume of 798,033. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 5.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The stock's 50-day moving average price is $41.05 and its 200-day moving average price is $53.51.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly 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. The business had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Cactus's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. Equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 2nd. Cactus's dividend payout ratio is 18.51%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays lowered their price objective on Cactus from $54.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Cactus from $54.00 to $52.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.33.

Cactus Company 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.