Meeder Asset Management Inc. Takes Position in Cactus, Inc. (NYSE:WHD)

Meeder Asset Management Inc. purchased a new stake in Cactus, Inc. (NYSE:WHD) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,310 shares of the company’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Cactus by 74.6% in 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 last quarter. Versant Capital Management Inc lifted its position in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after buying an additional 359 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Cactus by 66.9% during the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after buying an additional 337 shares during the period. AlphaQuest LLC increased its position in Cactus by 202.5% during the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock valued at $100,000 after acquiring an additional 1,142 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Cactus by 54.2% in the fourth quarter. KBC Group NV now owns 3,013 shares of the company’s stock valued at $176,000 after acquiring an additional 1,059 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

Cactus Trading Up 1.1 %

Shares of NYSE WHD opened at $46.34 on Wednesday. Cactus, Inc. has a twelve month low of $43.27 and a twelve month high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $53.92 and a two-hundred day simple moving average of $59.31. The firm has a market cap of $3.69 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05.

Cactus (NYSE:WHD) last released its quarterly earnings data 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). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. Analysts expect 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 paid a dividend of $0.13 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.12%. Cactus’s dividend payout ratio is presently 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.