Alliancebernstein L.P. Lowers Position in Cactus, Inc. (NYSE:WHD)

Alliancebernstein L.P. cut its position in Cactus, Inc. (NYSE:WHD - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,237 shares of the company's stock after selling 70,118 shares during the quarter. Alliancebernstein L.P. owned about 0.83% of Cactus worth $38,531,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock valued at $30,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc raised its stake in shares of Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock valued at $34,000 after purchasing an additional 359 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock valued at $49,000 after purchasing an additional 337 shares during the period. Meeder Asset Management Inc. bought a new position in Cactus in the 4th quarter worth about $76,000. Finally, AlphaQuest LLC increased its stake in Cactus by 202.5% in the 4th quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock worth $100,000 after acquiring an additional 1,142 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barclays decreased their target price on Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $55.00.

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Cactus Trading Down 7.5 %

WHD stock traded down $2.96 during trading on Thursday, hitting $36.20. 107,263 shares of the company traded hands, compared to its average volume of 755,231. The firm has a market capitalization of $2.88 billion, a PE ratio of 12.80, a P/E/G ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01. The company has a 50-day moving average of $50.24 and a 200-day moving average of $58.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD - Get Free Report) last issued its 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). The company had revenue of $272.12 million for the quarter, compared to analysts' expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. Analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were given a $0.13 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.44%. Cactus's dividend payout ratio is currently 18.84%.

Cactus Company 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.