Axiom Investors LLC DE Sells 82,632 Shares of Cactus, Inc. $WHD

Key Points

• Axiom Investors LLC DE reduced its stake in Cactus, Inc. by 55.3%, selling 82,632 shares and ending the first quarter with 66,685 shares valued at approximately $3 million.
• Cactus, Inc. declared a quarterly dividend of $0.14 per share, marking an increase from the previous $0.13 dividend, with a yield of 1.3%.
• Despite missing earnings estimates for the last quarter, analysts maintain a mix of ratings with a consensus price target of $50.75 for Cactus, Inc.

Axiom Investors LLC DE lowered its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 55.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,685 shares of the company's stock after selling 82,632 shares during the quarter. Axiom Investors LLC DE owned about 0.08% of Cactus worth $3,056,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of WHD. Advisors Asset Management Inc. boosted its position in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after acquiring an additional 543 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Cactus during the 1st quarter worth about $57,000. Financial Harvest LLC acquired a new stake in shares of Cactus in the 1st quarter valued at about $130,000. KBC Group NV grew its stake 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 period. Finally, Central Pacific Bank Trust Division grew its stake 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 period. Institutional investors own 85.11% of the company's stock.

Cactus Trading Down 2.2%

WHD opened at $41.86 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The firm has a market capitalization of $3.34 billion, a PE ratio of 15.80, a P/E/G ratio of 4.02 and a beta of 1.53. The company's 50-day moving average is $42.62 and its 200 day moving average is $43.16.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the company earned $0.81 EPS. The company's revenue was down 5.8% on a year-over-year basis. As a group, research analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be paid a $0.14 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.3%. Cactus's dividend payout ratio (DPR) is 21.13%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Barclays restated 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. JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus reduced their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cactus has an average rating of "Hold" and a consensus price target of $50.75.

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.

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