State of New Jersey Common Pension Fund D Reduces Holdings in Cactus, Inc. (NYSE:WHD)

State of New Jersey Common Pension Fund D cut its stake in Cactus, Inc. (NYSE:WHD) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,186 shares of the company’s stock after selling 385 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WHD. Bridgewater Associates LP acquired a new stake in shares of Cactus during the third quarter worth about $9,501,000. JPMorgan Chase & Co. grew its stake in Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after buying an additional 52,085 shares during the last quarter. Citigroup Inc. increased its position in Cactus by 81.2% during the third quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock worth $5,338,000 after buying an additional 40,099 shares during the period. Assenagon Asset Management S.A. lifted its stake in Cactus by 394.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock valued at $9,338,000 after buying an additional 127,614 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Cactus by 36.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 363,951 shares of the company’s stock valued at $21,240,000 after acquiring an additional 97,570 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Up 0.2 %

Shares of Cactus stock opened at $58.48 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. Cactus, Inc. has a 52-week low of $44.57 and a 52-week high of $70.01. The company’s 50-day simple moving average is $60.11 and its 200-day simple moving average is $61.19.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is 18.44%.

Analyst Ratings Changes

Separately, Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus target price of $56.40.

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.