Allspring Global Investments Holdings LLC Reduces Stock Position in Cactus, Inc. (NYSE:WHD)

Allspring Global Investments Holdings LLC cut its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,468 shares of the company's stock after selling 47,171 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of Cactus worth $11,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WHD. Creative Planning increased its holdings in Cactus by 27.5% during the 3rd quarter. Creative Planning now owns 11,292 shares of the company's stock worth $674,000 after purchasing an additional 2,433 shares in the last quarter. Vest Financial LLC boosted its position in shares of Cactus by 5.0% during the third quarter. Vest Financial LLC now owns 23,709 shares of the company's stock valued at $1,415,000 after buying an additional 1,138 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after buying an additional 307 shares in the last quarter. Andina Capital Management LLC raised its position in Cactus by 18.8% in the 3rd quarter. Andina Capital Management LLC now owns 12,348 shares of the company's stock valued at $737,000 after buying an additional 1,950 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Cactus by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company's stock valued at $925,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Performance

Shares of WHD stock traded down $1.42 during trading hours on Friday, hitting $58.27. 538,292 shares of the company were exchanged, compared to its average volume of 454,088. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 5.20 and a beta of 1.97. The firm has a fifty day simple moving average of $60.20 and a 200 day simple moving average of $61.16. Cactus, Inc. has a 52-week low of $44.57 and a 52-week high of $70.01.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus's dividend payout ratio is currently 18.44%.

Analyst Ratings Changes

Separately, Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.40.

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.