T. Rowe Price Investment Management Inc. Sells 119,569 Shares of Cactus, Inc. (NYSE:WHD)

T. Rowe Price Investment Management Inc. lowered its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,752,339 shares of the company's stock after selling 119,569 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.46% of Cactus worth $160,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oarsman Capital Inc. bought a new position in shares of Cactus in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its position in Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock worth $30,000 after purchasing an additional 223 shares during the last quarter. Versant Capital Management Inc grew its stake in Cactus by 165.4% in the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock valued at $34,000 after purchasing an additional 359 shares during the period. Jones Financial Companies Lllp increased its position in shares of Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock valued at $49,000 after purchasing an additional 337 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Cactus during the 4th quarter valued at $76,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

NYSE WHD traded down $1.66 during trading on Wednesday, hitting $38.01. 123,952 shares of the company's stock traded hands, compared to its average volume of 778,657. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The business has a 50 day moving average of $43.91 and a 200-day moving average of $55.74.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $272.12 million for the quarter, compared to analysts' expectations of $277.59 million. As a group, equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WHD shares. Barclays reduced their price target 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. Stifel Nicolaus reduced their target price on shares of Cactus from $64.00 to $61.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $53.80.

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.