American Century Companies Inc. Sells 366,191 Shares of Cactus, Inc. $WHD

Key Points

• American Century Companies Inc. has reduced its stake in Cactus, Inc. by 38.3%, selling 366,191 shares and now holding 589,720 shares worth approximately $27 million.
• The company recently declared a quarterly dividend of $0.14 per share, a slight increase from the previous $0.13, representing an annualized yield of 1.3%.
• Despite a recent earnings report showing a decline in revenue, Wall Street analysts have varying opinions on Cactus, with two giving it a "Buy" rating and one downgrading to "Sell," and a consensus price target of $50.75.

American Century Companies Inc. trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 38.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,720 shares of the company's stock after selling 366,191 shares during the quarter. American Century Companies Inc. owned 0.74% of Cactus worth $27,027,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Harvest LLC bought a new stake in shares of Cactus in the 1st quarter valued at about $130,000. KBC Group NV grew its position in shares of Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after buying an additional 360 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Cactus by 7.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after buying an additional 250 shares during the last quarter. Hancock Whitney Corp grew its position in shares of Cactus by 7.4% in the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock valued at $234,000 after buying an additional 277 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in shares of Cactus in the 4th quarter valued at about $254,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Analysts Set New Price Targets

WHD has been the topic of several research analyst reports. Wall Street Zen lowered Cactus from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Barclays restated an "overweight" rating and set a $52.00 target price (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Stifel Nicolaus cut their price target on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.75.

Cactus Stock Down 1.6%

Shares of Cactus stock traded down $0.6760 on Monday, hitting $41.6640. The company had a trading volume of 451,087 shares, compared to its average volume of 793,915. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.98 and a beta of 1.48. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01. The stock has a 50 day moving average of $43.19 and a 200-day moving average of $44.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be given a $0.14 dividend. This is an increase from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Cactus's payout ratio is presently 19.62%.

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.