Thrivent Financial for Lutherans Cuts Stock Position in Cactus, Inc. $WHD

Thrivent Financial for Lutherans lessened its holdings in shares of Cactus, Inc. (NYSE:WHD) by 34.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,573 shares of the company’s stock after selling 27,660 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Cactus worth $2,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. bought a new position in Cactus during the second quarter valued at approximately $30,648,000. Ameriprise Financial Inc. lifted its holdings in shares of Cactus by 130.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock worth $30,340,000 after acquiring an additional 393,260 shares during the last quarter. Paradice Investment Management LLC boosted its stake in shares of Cactus by 111.6% during the 3rd quarter. Paradice Investment Management LLC now owns 582,218 shares of the company’s stock worth $22,980,000 after purchasing an additional 307,124 shares during the period. Pacer Advisors Inc. raised its position in Cactus by 21,301.9% in the 3rd quarter. Pacer Advisors Inc. now owns 262,601 shares of the company’s stock worth $10,365,000 after purchasing an additional 261,374 shares during the period. Finally, Schroder Investment Management Group raised its position in Cactus by 26.3% in the 2nd quarter. Schroder Investment Management Group now owns 669,241 shares of the company’s stock worth $29,259,000 after purchasing an additional 139,155 shares during the period. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 1.8%

NYSE:WHD opened at $56.93 on Wednesday. The company’s 50-day simple moving average is $50.37 and its 200-day simple moving average is $43.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 5.28. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $61.38. The stock has a market capitalization of $4.55 billion, a P/E ratio of 22.68, a P/E/G ratio of 5.92 and a beta of 1.27.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, March 2nd. Cactus’s payout ratio is 22.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and increased their price target for the stock from $45.00 to $55.00 in a report on Thursday, December 11th. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Stifel Nicolaus boosted their target price on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.20.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.