Cactus (NYSE:WHD) CEO Scott Bender Sells 13,300 Shares of Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 13,300 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00. Following the completion of the transaction, the chief executive officer directly owned 128,219 shares of the company’s stock, valued at approximately $7,061,020.33. This represents a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cactus Stock Performance

Shares of WHD opened at $52.31 on Thursday. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $64.30. The company’s 50 day simple moving average is $55.46 and its 200 day simple moving average is $54.16. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 2.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.64 by $0.29. The firm had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. Cactus’s revenue for the quarter was up 64.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts predict that Cactus, Inc. will post 2.92 EPS for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. This is a positive change from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

WHD has been the subject of several analyst reports. Citigroup upped their target price on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Piper Sandler upped their price objective on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays increased their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.60.

Institutional Trading of Cactus

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Cactus by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after buying an additional 659,366 shares during the period. State Street Corp grew its position in Cactus by 3.0% during the fourth quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after acquiring an additional 83,190 shares during the period. Capital International Investors increased its stake in Cactus by 27.0% during the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after acquiring an additional 498,210 shares during the last quarter. First Trust Advisors LP increased its stake in Cactus by 13.7% during the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock worth $99,033,000 after acquiring an additional 251,283 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Cactus by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after purchasing an additional 28,415 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

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