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 cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 55.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,685 shares of the company's stock after selling 82,632 shares during the quarter. Axiom Investors LLC DE owned approximately 0.08% of Cactus worth $3,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Cactus by 7.1% during 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 purchasing an additional 195,496 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Cactus by 12.1% during the first quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company's stock valued at $69,116,000 after purchasing an additional 162,374 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cactus by 31.5% during the first quarter. Alliancebernstein L.P. now owns 868,409 shares of the company's stock valued at $39,799,000 after purchasing an additional 208,172 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Cactus during the first quarter valued at about $28,924,000. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Cactus during the first quarter valued at about $27,457,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research lowered Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Stifel Nicolaus cut their price target on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Barclays reissued an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, 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 research note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Cactus currently has a consensus rating of "Hold" and a consensus price target of $50.75.

Cactus Trading Down 4.1%

Shares of Cactus stock traded down $1.72 during midday trading on Friday, reaching $40.00. The company had a trading volume of 560,876 shares, compared to its average volume of 581,567. The stock has a fifty day moving average price of $42.29 and a 200 day moving average price of $42.73. 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 firm has a market cap of $3.19 billion, a PE ratio of 15.09, a P/E/G ratio of 3.77 and a beta of 1.53. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.Cactus's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a $0.14 dividend. The ex-dividend date is Friday, August 29th. This is an increase 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%. Cactus's dividend payout ratio is presently 21.13%.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of Cactus stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the sale, the executive vice president directly owned 11,088 shares in the company, valued at approximately $458,156.16. The trade was a 47.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.84% of the company's stock.

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.