Bank of New York Mellon Corp increased its position in Cactus Inc (NYSE:WHD) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 836,182 shares of the company’s stock after purchasing an additional 9,837 shares during the period. Bank of New York Mellon Corp’s holdings in Cactus were worth $22,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in shares of Cactus during the 4th quarter valued at approximately $3,603,000. Public Employees Retirement Association of Colorado boosted its position in shares of Cactus by 126.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 702,000 shares of the company’s stock valued at $19,242,000 after acquiring an additional 391,500 shares during the last quarter. Algert Global LLC bought a new position in shares of Cactus during the 4th quarter valued at approximately $1,148,000. Sawgrass Asset Management LLC boosted its position in shares of Cactus by 21.5% during the 4th quarter. Sawgrass Asset Management LLC now owns 9,125 shares of the company’s stock valued at $250,000 after acquiring an additional 1,615 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Cactus by 3.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 8,874 shares of the company’s stock valued at $243,000 after acquiring an additional 308 shares during the last quarter. 52.02% of the stock is currently owned by institutional investors.

WHD stock opened at $35.94 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.34 and a current ratio of 3.68. Cactus Inc has a twelve month low of $24.60 and a twelve month high of $40.97. The firm has a market capitalization of $2.70 billion and a price-to-earnings ratio of 20.19.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, March 6th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Cactus had a return on equity of 37.69% and a net margin of 9.50%. The business had revenue of $139.82 million for the quarter, compared to analyst estimates of $146.27 million. Sell-side analysts predict that Cactus Inc will post 1.98 earnings per share for the current fiscal year.

In other Cactus news, Director Alan Semple sold 9,130 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.93, for a total value of $328,040.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Steven Bender sold 228,880 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.93, for a total value of $8,223,658.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,173,649 shares of company stock worth $78,099,209. Insiders own 96.10% of the company’s stock.

A number of research analysts have recently commented on WHD shares. Bank of America started coverage on Cactus in a research report on Monday, December 3rd. They set a “buy” rating and a $36.00 target price for the company. ValuEngine upgraded Cactus from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Citigroup decreased their price target on Cactus from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Stephens assumed coverage on Cactus in a report on Wednesday, January 9th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, Raymond James assumed coverage on Cactus in a report on Wednesday, February 6th. They set a “strong-buy” rating and a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.91.

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About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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