Jennison Associates LLC Sells 61,305 Shares of Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC decreased its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,444 shares of the company's stock after selling 61,305 shares during the quarter. Jennison Associates LLC owned approximately 0.64% of Cactus worth $23,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Cactus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after acquiring an additional 8,164 shares during the last quarter. KBC Group NV boosted its holdings in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after acquiring an additional 360 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cactus by 535.8% during the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after acquiring an additional 12,146 shares in the last quarter. Emerald Advisers LLC raised its position in Cactus by 20.6% in the 4th quarter. Emerald Advisers LLC now owns 307,315 shares of the company's stock worth $17,935,000 after buying an additional 52,552 shares during the last quarter. Finally, Axiom Investors LLC DE grew its stake in shares of Cactus by 26.0% during the 4th quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock valued at $8,714,000 after acquiring an additional 30,851 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Down 0.4%

NYSE:WHD traded down $0.16 during trading hours on Thursday, reaching $46.11. The company's stock had a trading volume of 79,190 shares, compared to its average volume of 710,393. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 3.91 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The business's 50-day moving average is $44.21 and its 200-day moving average is $47.82.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The firm had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. During the same period last year, the company earned $0.75 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, June 2nd. Cactus's dividend payout ratio is currently 18.51%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays cut their price objective 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 decreased their target price on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th.

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.