KLP Kapitalforvaltning AS Invests $788,000 in Cactus, Inc. (NYSE:WHD)

KLP Kapitalforvaltning AS purchased a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,500 shares of the company's stock, valued at approximately $788,000.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Cactus during the 4th quarter valued at $16,377,000. Weiss Asset Management LP bought a new stake in Cactus during the third quarter valued at about $13,647,000. Fisher Asset Management LLC raised its holdings in Cactus by 65.5% during 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. Assenagon Asset Management S.A. lifted its position in shares of 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 acquiring an additional 127,614 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Cactus by 6.5% in the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company's stock worth $104,934,000 after acquiring an additional 106,819 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of Cactus stock traded down $3.13 during trading on Friday, reaching $37.51. 2,220,370 shares of the stock traded hands, compared to its average volume of 744,331. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a 52-week low of $35.35 and a 52-week high of $70.01. The business has a fifty day simple moving average of $52.64 and a two-hundred day simple moving average of $58.93.

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Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $272.12 million for the quarter, compared to analysts' expectations of $277.59 million. Sell-side analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.39%. Cactus's dividend payout ratio (DPR) is presently 18.84%.

Analyst Upgrades and Downgrades

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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.00.

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.