TD Asset Management Inc Reduces Holdings in Cactus, Inc. $WHD

Key Points

• TD Asset Management Inc has reduced its holdings in Cactus, Inc. by 25.1%, bringing its total shares to 32,164 valued at approximately $1.4 million.
• Despite the reduction by TD Asset Management, other investors like Advisors Asset Management have increased their holdings in Cactus by over 113% in the first quarter.
• Cactus recently declared a quarterly dividend of $0.14 per share, increasing from the previous dividend of $0.13, reflecting a positive change in its financial strategy.

TD Asset Management Inc cut its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 25.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,164 shares of the company's stock after selling 10,778 shares during the quarter. TD Asset Management Inc's holdings in Cactus were worth $1,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. grew 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 buying an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cactus during the first quarter worth about $57,000. Financial Harvest LLC purchased a new stake in shares of Cactus during the first quarter worth about $130,000. CWM LLC grew its holdings in shares of Cactus by 131.7% during the second quarter. CWM LLC now owns 2,966 shares of the company's stock worth $130,000 after buying an additional 1,686 shares in the last quarter. Finally, KBC Group NV grew 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 buying an additional 360 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WHD. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Zacks Research downgraded 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. Barclays reissued an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Finally, Stifel Nicolaus decreased their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $51.67.

Cactus Price Performance

WHD opened at $37.64 on Thursday. The company's 50 day simple moving average is $39.46 and its 200 day simple moving average is $41.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $70.01. The stock has a market capitalization of $3.00 billion, a PE ratio of 14.20, a P/E/G ratio of 3.59 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) 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). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same period in the prior year, the business posted $0.81 earnings per share. Cactus's revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 29th. Cactus's dividend payout ratio is presently 21.13%.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of Cactus stock in a transaction that occurred on 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 directly owned 11,088 shares of the company's stock, valued at $458,156.16. The trade was a 47.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.75% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding WHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cactus, Inc. (NYSE:WHD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.