American Century Companies Inc. Cuts Stock Position in Cactus, Inc. $WHD

American Century Companies Inc. decreased its holdings in Cactus, Inc. by 6.2% during Q2, selling 36,588 shares. The firm now owns 553,132 shares worth $24.18 million. Other institutional investors also adjusted their positions in Cactus. The stock opened at $43.35 with a market cap of $3.46 billion. Cactus reported Q3 earnings of $0.67 per share, beating estimates. The company announced a quarterly dividend of $0.14 per share. Analysts have mixed ratings on the stock, with some upgrades and downgrades.

American Century Companies Inc. decreased its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 553,132 shares of the company's stock after selling 36,588 shares during the quarter. American Century Companies Inc. owned about 0.69% of Cactus worth $24,183,000 as of its most recent filing with the Securities and Exchange Commission.

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Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in shares of Cactus by 38.5% during the first quarter. TD Asset Management Inc now owns 42,942 shares of the company's stock worth $1,968,000 after purchasing an additional 11,942 shares in the last quarter. Mackenzie Financial Corp lifted its position in Cactus by 26.7% during the 1st quarter. Mackenzie Financial Corp now owns 11,705 shares of the company's stock worth $536,000 after acquiring an additional 2,468 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Cactus during the 1st quarter worth approximately $852,000. Aigen Investment Management LP purchased a new position in Cactus in the 1st quarter worth approximately $376,000. Finally, Nuveen LLC acquired a new stake in Cactus in the first quarter valued at approximately $11,494,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the transaction, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.84% of the stock is owned by corporate insiders.

Cactus Stock Performance

WHD stock opened at $43.35 on Tuesday. The firm has a market cap of $3.46 billion, a P/E ratio of 17.27, a P/E/G ratio of 4.63 and a beta of 1.29. The stock's 50 day simple moving average is $40.02 and its 200 day simple moving average is $41.85. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $68.90.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The business had revenue of $263.95 million during the quarter, compared to analyst estimates of $253.89 million. During the same period in the previous year, the business posted $0.74 EPS. The company's quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, December 1st. Cactus's dividend payout ratio is presently 22.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Bank of America raised shares of Cactus from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Zacks Research raised shares of Cactus from a "strong sell" rating to a "hold" rating in a research note on Monday, November 3rd. Barclays cut their price objective on shares of Cactus from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, October 31st. Stifel Nicolaus raised their target price on Cactus from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cactus in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Cactus presently has a consensus rating of "Hold" and a consensus target price of $47.75.

View Our Latest Report on WHD

Cactus Company Profile

(Free Report)

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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