Victory Capital Management Inc. Sells 239,557 Shares of Cactus, Inc. (NYSE:WHD)

Victory Capital Management Inc. lessened its position in Cactus, Inc. (NYSE:WHD - Free Report) by 31.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 528,609 shares of the company's stock after selling 239,557 shares during the quarter. Victory Capital Management Inc. owned 0.66% of Cactus worth $24,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Oarsman Capital Inc. purchased a new stake in shares of Cactus during the fourth quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Cactus during the fourth quarter worth about $76,000. KBC Group NV boosted 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 purchasing an additional 360 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after purchasing an additional 250 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of Cactus by 12.2% during the first quarter. Portside Wealth Group LLC now owns 4,576 shares of the company's stock worth $210,000 after purchasing an additional 496 shares during the period. Institutional investors own 85.11% of the company's stock.

Cactus Stock Performance

Shares of NYSE WHD opened at $43.46 on Tuesday. The firm's fifty day moving average is $44.18 and its two-hundred day moving average is $47.98. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. The company has a market cap of $3.47 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.83 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The firm had revenue of $280.32 million during the quarter, compared to analysts' expectations of $272.22 million. During the same period in the previous year, the company earned $0.75 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared 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 of this dividend was Monday, June 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. Cactus's payout ratio is presently 18.51%.

Analyst Upgrades and Downgrades

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

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.

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