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

Other large investors have also recently bought and sold shares of the company. Financial Harvest LLC bought a new stake in Cactus in the first quarter worth $130,000. KBC Group NV boosted its holdings in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after purchasing an additional 360 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Cactus by 7.5% in the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after purchasing an additional 250 shares in the last quarter. Hancock Whitney Corp boosted its holdings in Cactus by 7.4% in the fourth quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock worth $234,000 after purchasing an additional 277 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in Cactus during the fourth quarter valued at about $254,000. 85.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WHD. Wall Street Zen cut Cactus from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Barclays reissued an "overweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Stifel Nicolaus cut their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. cut their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.75.

Cactus Stock Performance

Shares of NYSE WHD traded down $0.32 during mid-day trading on Thursday, hitting $41.42. The company had a trading volume of 52,212 shares, compared to its average volume of 712,671. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The business's 50-day simple moving average is $43.02 and its 200-day simple moving average is $44.39. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The firm has a market cap of $3.31 billion, a P/E ratio of 15.66, a PEG ratio of 3.83 and a beta of 1.48.

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

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.14 per share. This is a positive change from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. Cactus's dividend payout ratio is 21.13%.

About Cactus

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.