Joel Bender Sells 63,963 Shares of Cactus (NYSE:WHD) Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 63,963 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $50.74, for a total transaction of $3,245,482.62. Following the sale, the president owned 242,838 shares in the company, valued at approximately $12,321,600.12. The trade was a 20.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cactus Trading Down 5.8%

WHD opened at $48.68 on Wednesday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 20.28, a P/E/G ratio of 5.08 and a beta of 1.25. The company has a current ratio of 5.81, a quick ratio of 4.13 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 $59.25. The firm’s fifty day simple moving average is $53.93 and its 200 day simple moving average is $45.92.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The firm had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is currently 23.33%.

Institutional Trading of Cactus

Several institutional investors and hedge funds have recently added to or reduced their stakes in WHD. EverSource Wealth Advisors LLC grew its position in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 259 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Cactus in the 3rd quarter valued at about $25,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Cactus by 73.4% in 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 during the period. Johnson Financial Group Inc. acquired a new stake in Cactus in the 3rd quarter valued at about $33,000. Finally, Advisors Asset Management Inc. lifted its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WHD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup lifted their price target on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Barclays boosted their price target on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cactus currently has an average rating of “Moderate Buy” and an average target price of $56.33.

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.