JPMorgan Chase & Co. Sells 117,185 Shares of Cactus, Inc. (NYSE:WHD)

JPMorgan Chase & Co. cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,985,799 shares of the company's stock after selling 117,185 shares during the quarter. JPMorgan Chase & Co. owned 3.75% of Cactus worth $174,251,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WHD. Emerald Advisers LLC grew its stake in shares of 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 in the last quarter. Principal Financial Group Inc. increased its stake in Cactus by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company's stock worth $20,853,000 after acquiring an additional 15,035 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cactus during the fourth quarter worth approximately $16,377,000. Charles Schwab Investment Management Inc. raised its position in Cactus by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company's stock valued at $40,939,000 after purchasing an additional 13,669 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Cactus by 2.7% in the 4th quarter. New York State Common Retirement Fund now owns 183,077 shares of the company's stock worth $10,684,000 after purchasing an additional 4,890 shares during the period. Institutional investors own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays lowered their price target on Cactus from $61.00 to $54.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.00.

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Cactus Trading Down 7.7 %

Shares of WHD traded down $3.13 during mid-day trading on Friday, reaching $37.51. 2,220,370 shares of the company's stock traded hands, compared to its average volume of 744,331. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The stock's 50-day moving average is $52.64 and its two-hundred day moving average is $58.93. Cactus, Inc. has a 12 month low of $35.35 and a 12 month high of $70.01. The stock has a market cap of $2.98 billion, a P/E ratio of 13.30, a P/E/G ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. Research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Monday, March 3rd. Cactus's dividend payout ratio is presently 18.84%.

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.