Bank of New York Mellon Corp Sells 534,889 Shares of Cactus, Inc. (NYSE:WHD)

Bank of New York Mellon Corp cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 45.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 645,894 shares of the company's stock after selling 534,889 shares during the period. Bank of New York Mellon Corp owned 0.81% of Cactus worth $29,601,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Oarsman Capital Inc. acquired a new position in shares of Cactus in the fourth quarter valued at $26,000. Jones Financial Companies Lllp boosted its holdings in shares of Cactus by 66.9% in the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock worth $49,000 after buying an additional 337 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Cactus in the fourth quarter worth approximately $76,000. AlphaQuest LLC boosted its holdings in Cactus by 202.5% in the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock valued at $100,000 after acquiring an additional 1,142 shares in the last quarter. Finally, KBC Group NV lifted its position in Cactus by 11.9% during 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. Hedge funds and other institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Friday, June 20th. Stifel Nicolaus reduced their price objective on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th.

Cactus Price Performance

Shares of WHD remained flat at $43.57 on Friday. 408,138 shares of the company were exchanged, compared to its average volume of 690,810. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The stock has a market capitalization of $3.48 billion, a PE ratio of 15.51, a P/E/G ratio of 3.83 and a beta of 1.48. The company's 50-day moving average price is $44.18 and its 200 day moving average price is $48.13.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping 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 18.99% and a net margin of 16.78%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were given a $0.13 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. Cactus's payout ratio is 18.51%.

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.