Nomura Asset Management Co. Ltd. Reduces Position in Cactus, Inc. (NYSE:WHD)

Nomura Asset Management Co. Ltd. cut its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,691 shares of the company's stock after selling 21,584 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Cactus were worth $1,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Cactus during the fourth quarter valued at about $16,377,000. Weiss Asset Management LP bought a new stake in Cactus during the 3rd quarter valued at approximately $13,647,000. Fisher Asset Management LLC lifted its holdings in Cactus by 65.5% in the 4th quarter. Fisher Asset Management LLC now owns 546,987 shares of the company's stock worth $31,922,000 after purchasing an additional 216,543 shares in the last quarter. Norges Bank bought a new position in Cactus in the 4th quarter worth approximately $11,193,000. Finally, Vanguard Group Inc. grew its holdings in Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock valued at $448,247,000 after buying an additional 147,395 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Price Performance

NYSE:WHD traded down $0.16 during trading hours on Monday, reaching $37.41. The stock had a trading volume of 1,769,778 shares, compared to its average volume of 748,416. The stock has a market capitalization of $2.98 billion, a PE ratio of 13.27, a PEG ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a 52 week low of $35.31 and a 52 week high of $70.01. The company has a 50 day moving average price of $52.15 and a two-hundred day moving average price of $58.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Remove Ads

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

Cactus Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Barclays lowered their target price on shares of Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.00.

About Cactus

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.