Meeder Asset Management Inc. reduced its position in shares of Cactus Inc (NYSE:WHD) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,586 shares of the company’s stock after selling 996 shares during the period. Meeder Asset Management Inc.’s holdings in Cactus were worth $237,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Cactus by 22.2% during the second quarter. BlackRock Inc. now owns 2,332,388 shares of the company’s stock worth $78,811,000 after buying an additional 423,339 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of Cactus by 50.7% in the third quarter. Public Employees Retirement Association of Colorado now owns 310,500 shares of the company’s stock valued at $11,886,000 after purchasing an additional 104,500 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Cactus by 165.9% in the second quarter. Bank of New York Mellon Corp now owns 218,305 shares of the company’s stock valued at $7,377,000 after purchasing an additional 136,203 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of Cactus in the third quarter valued at approximately $5,359,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cactus in the second quarter valued at approximately $315,000. 50.07% of the stock is owned by hedge funds and other institutional investors.
Shares of WHD stock traded up $0.90 during mid-day trading on Friday, reaching $36.60. The company’s stock had a trading volume of 295,988 shares, compared to its average volume of 263,538. Cactus Inc has a 12-month low of $23.02 and a 12-month high of $40.97. The company has a current ratio of 3.52, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.67 billion and a PE ratio of 0.03.
WHD has been the topic of several research reports. Bank of America initiated coverage on shares of Cactus in a research report on Monday, December 3rd. They issued a “buy” rating and a $36.00 price target on the stock. Citigroup set a $42.00 price objective on shares of Cactus and gave the company a “buy” rating in a research note on Friday, November 2nd. Raymond James initiated coverage on shares of Cactus in a research note on Wednesday, February 6th. They set a “strong-buy” rating and a $39.00 price objective on the stock. ValuEngine raised shares of Cactus from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research raised shares of Cactus from a “strong sell” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.75.
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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
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