New York State Common Retirement Fund Lowers Stock Position in Cactus, Inc. (NYSE:WHD)

New York State Common Retirement Fund reduced its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,492 shares of the company's stock after selling 23,585 shares during the period. New York State Common Retirement Fund owned about 0.20% of Cactus worth $7,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Cactus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after buying an additional 8,164 shares during the period. KBC Group NV boosted its position in Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after buying an additional 360 shares during the period. SG Americas Securities LLC boosted its position in Cactus by 535.8% during the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock worth $661,000 after buying an additional 12,146 shares during the period. Emerald Advisers LLC raised its holdings in Cactus by 20.6% during the 4th quarter. Emerald Advisers LLC now owns 307,315 shares of the company's stock worth $17,935,000 after purchasing an additional 52,552 shares during the last quarter. Finally, Axiom Investors LLC DE raised its holdings in Cactus by 26.0% during the 4th quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock worth $8,714,000 after purchasing an additional 30,851 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Price Performance

Cactus stock remained flat at $43.57 during midday trading on Friday. The company had a trading volume of 408,138 shares, compared to its average volume of 688,754. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The business has a 50 day moving average of $44.18 and a 200-day moving average of $48.06. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.83 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 (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $280.32 million for the quarter, compared to analysts' expectations of $272.22 million. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The company's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Equities research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.19%. Cactus's dividend payout ratio (DPR) is 18.51%.

Analyst Ratings Changes

WHD has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Barclays lowered their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd.

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.