Cactus (NYSE:WHD) CEO Scott Bender Sells 100,000 Shares

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $63.89, for a total transaction of $6,389,000.00. Following the sale, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at approximately $7,700,470.03. The trade was a 45.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Bender also recently made the following trade(s):

• On Monday, July 27th, Scott Bender sold 13,300 shares of Cactus stock. The stock was sold at an average price of $55.07, for a total transaction of $732,431.00.

Cactus Trading Down 1.9%

NYSE WHD opened at $65.91 on Thursday. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $68.00. The company has a 50 day moving average price of $55.75 and a 200 day moving average price of $54.61. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.28 billion, a PE ratio of 56.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.36.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. Cactus’s revenue was up 64.3% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.07 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a dividend of $0.15 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. This represents a $0.60 annualized dividend and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is presently 47.86%.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently bought and sold shares of WHD. Aster Capital Management DIFC Ltd increased its holdings in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cactus in the third quarter valued at $33,000. Advisors Asset Management Inc. raised its position in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of Cactus during the 2nd quarter worth about $58,000. Finally, Global Retirement Partners LLC grew its position in shares of Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after acquiring an additional 1,176 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the subject of several recent analyst reports. Citigroup raised their price target on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Piper Sandler lifted their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Stifel Nicolaus boosted their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Barclays upped their price target on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.20.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.