Geode Capital Management LLC Buys 45,821 Shares of Cactus, Inc. (NYSE:WHD)

Geode Capital Management LLC increased its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,804,107 shares of the company's stock after purchasing an additional 45,821 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Cactus worth $105,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WHD. Raymond James Financial Inc. purchased a new stake in Cactus during the 4th quarter valued at $16,377,000. Fisher Asset Management LLC lifted its holdings in Cactus by 65.5% in the fourth quarter. Fisher Asset Management LLC now owns 546,987 shares of the company's stock valued at $31,922,000 after acquiring an additional 216,543 shares during the period. Norges Bank purchased a new position in Cactus in the fourth quarter worth about $11,193,000. Vanguard Group Inc. grew its stake in shares of Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock valued at $448,247,000 after purchasing an additional 147,395 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Cactus by 394.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company's stock valued at $9,338,000 after purchasing an additional 127,614 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Stock Performance

Shares of WHD stock traded down $0.22 during trading hours on Tuesday, reaching $36.87. 320,917 shares of the company traded hands, compared to its average volume of 763,656. The firm has a 50-day moving average price of $48.81 and a 200 day moving average price of $57.58. The company has a market cap of $2.93 billion, a P/E ratio of 13.02, a P/E/G ratio of 5.13 and a beta of 1.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01.

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Cactus (NYSE:WHD - Get Free Report) last issued its quarterly 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 firm 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%. As a group, sell-side 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 annualized dividend and a dividend yield of 1.41%. Cactus's payout ratio is 18.84%.

Analyst Ratings Changes

Separately, Barclays cut their target price on shares of Cactus from $61.00 to $54.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $55.00.

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.