Axiom Investors LLC DE Has $3.06 Million Holdings in Cactus, Inc. $WHD

Key Points

• Axiom Investors LLC DE reduced its stake in Cactus, Inc. by 55.3%, selling 82,632 shares to end the quarter with 66,685 shares, valued at approximately $3.06 million.
• Various institutional investors, including Dimensional Fund Advisors and MetLife Investment Management, have increased their holdings in Cactus, with institutional ownership now at 85.11%.
• Cactus, Inc. recently declared a quarterly dividend of $0.14 per share, marking an increase from the previous dividend of $0.13, resulting in an annualized dividend yield of 1.3%.

Axiom Investors LLC DE lessened its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,685 shares of the company's stock after selling 82,632 shares during the quarter. Axiom Investors LLC DE owned 0.08% of Cactus worth $3,056,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WHD. T. Rowe Price Investment Management Inc. lifted its stake in Cactus by 7.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after acquiring an additional 195,496 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cactus by 12.1% in the first quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company's stock valued at $69,116,000 after acquiring an additional 162,374 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cactus by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after acquiring an additional 43,237 shares during the last quarter. Northern Trust Corp lifted its stake in Cactus by 10.4% in the fourth quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after acquiring an additional 68,473 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Cactus by 10,002.6% in the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after acquiring an additional 453,519 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on WHD shares. Wall Street Zen cut shares of Cactus from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Stifel Nicolaus reduced their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Barclays reiterated an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered 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. Two equities research 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. Based on data from MarketBeat.com, Cactus presently has an average rating of "Hold" and an average price target of $50.75.

Cactus Stock Performance

Shares of NYSE WHD traded up $1.01 during trading hours on Wednesday, hitting $41.74. 572,109 shares of the company's stock were exchanged, compared to its average volume of 765,272. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. 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 stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 3.83 and a beta of 1.48. The company's 50-day moving average price is $43.02 and its 200-day moving average price is $44.39.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.34% and a net margin of 16.19%.The business had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same period in the prior year, the firm posted $0.81 EPS. Cactus's revenue for the quarter was down 5.8% on a year-over-year basis. On average, sell-side analysts expect 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. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. Cactus's dividend 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.