Nikko Asset Management Americas Inc. Has $839,000 Stock Holdings in Cactus, Inc. (NYSE:WHD)

Nikko Asset Management Americas Inc. cut its holdings in Cactus, Inc. (NYSE:WHD) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,750 shares of the company’s stock after selling 1,023 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Cactus were worth $839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gilbert & Cook Inc. increased its stake in shares of Cactus by 2.6% in the first quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after buying an additional 352 shares in the last quarter. Capstone Investment Advisors LLC increased its position in Cactus by 37.4% in the first quarter. Capstone Investment Advisors LLC now owns 29,718 shares of the company’s stock worth $1,489,000 after purchasing an additional 8,092 shares during the period. Diversify Advisory Services LLC acquired a new stake in Cactus in the first quarter worth about $380,000. Norden Group LLC increased its position in Cactus by 42.0% in the first quarter. Norden Group LLC now owns 12,978 shares of the company’s stock worth $650,000 after purchasing an additional 3,838 shares during the period. Finally, Vest Financial LLC increased its position in Cactus by 222.3% in the first quarter. Vest Financial LLC now owns 17,467 shares of the company’s stock worth $875,000 after purchasing an additional 12,047 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WHD. Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Barclays lifted their price objective on Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Bank of America lifted their price objective on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.14.

Cactus Trading Down 0.8 %

Shares of Cactus stock traded down $0.43 during trading on Tuesday, hitting $51.05. 412,609 shares of the company were exchanged, compared to its average volume of 772,972. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $57.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.24 and a quick ratio of 2.17. The firm has a market capitalization of $4.06 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.61 and a beta of 1.98. The firm’s fifty day moving average price is $50.96 and its 200 day moving average price is $47.77.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The business had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same quarter in the previous year, the business posted $0.64 EPS. Cactus’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Cactus, Inc. will post 2.94 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Tuesday, May 28th. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

Insider Activity

In other news, President Joel Bender sold 201,585 shares of Cactus stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the transaction, the president now owns 555,001 shares in the company, valued at approximately $28,876,702.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cactus news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the sale, the executive vice president now owns 1,852 shares in the company, valued at approximately $94,507.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joel Bender sold 201,585 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the sale, the president now owns 555,001 shares in the company, valued at approximately $28,876,702.03. The disclosure for this sale can be found here. Insiders have sold 602,059 shares of company stock worth $30,948,949 in the last 90 days. Corporate insiders own 16.84% of the company’s stock.

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.