Wellington Management Group LLP Lowers Stock Holdings in Cactus, Inc. (NYSE:WHD)

Wellington Management Group LLP cut its holdings in shares of Cactus, Inc. (NYSE:WHD) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,729 shares of the company’s stock after selling 309,681 shares during the period. Wellington Management Group LLP’s holdings in Cactus were worth $78,537,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WHD. Smartleaf Asset Management LLC increased its stake in Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after buying an additional 223 shares during the period. Versant Capital Management Inc increased its position in shares of Cactus by 165.4% during the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after acquiring an additional 337 shares in the last quarter. AlphaQuest LLC boosted its holdings in Cactus by 202.5% in the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock valued at $100,000 after purchasing an additional 1,142 shares during the period. Finally, KBC Group NV grew its stake in Cactus by 54.2% during the 4th quarter. KBC Group NV now owns 3,013 shares of the company’s stock worth $176,000 after purchasing an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Down 7.7 %

Cactus stock opened at $37.51 on Friday. The stock has a market cap of $2.98 billion, a PE ratio of 13.30, 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. The stock’s fifty day moving average is $52.64 and its two-hundred day moving average is $58.95. Cactus, Inc. has a 1-year low of $35.35 and a 1-year high of $70.01.

Cactus (NYSE:WHD) 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 business had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. On average, sell-side analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business 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. This represents a $0.52 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, March 3rd. Cactus’s payout ratio is 18.84%.

Wall Street Analyst Weigh In

Separately, Barclays reduced their price target on Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Cactus has a consensus rating of “Hold” and a consensus target price 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.