Cactus (NYSE:WHD) CEO Sells $6,391,000.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $63.91, for a total transaction of $6,391,000.00. Following the completion of the sale, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at $7,702,880.57. This represents a 45.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Scott Bender sold 100,000 shares of Cactus stock. The stock was sold at an average price of $61.97, for a total transaction of $6,197,000.00.

Cactus Stock Performance

Shares of WHD traded down $0.15 during mid-day trading on Tuesday, hitting $62.07. 587,403 shares of the company’s stock were exchanged, compared to its average volume of 853,409. Cactus, Inc. has a 52 week low of $39.16 and a 52 week high of $74.07. The stock’s 50-day simple moving average is $65.75 and its 200-day simple moving average is $58.39. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 43.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.19. The company had revenue of $430.89 million during the quarter, compared to the consensus estimate of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 18.24%. The firm’s quarterly revenue was up 63.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. On average, equities research analysts expect that Cactus, Inc. will post 3.13 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.60 annualized dividend and a yield of 1.0%. Cactus’s payout ratio is currently 41.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Barclays boosted their price target on Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup upped their price objective on shares of Cactus from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Cactus by 56.8% during the third quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after acquiring an additional 241 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Cactus by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 19,154 shares of the company’s stock valued at $981,000 after purchasing an additional 242 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Cactus by 6.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,900 shares of the company’s stock valued at $305,000 after purchasing an additional 300 shares in the last quarter. Your Advocates Ltd. LLP bought a new stake in shares of Cactus during the 3rd quarter valued at approximately $34,000. Finally, GAMMA Investing LLC grew its holdings in shares of Cactus by 29.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock valued at $130,000 after purchasing an additional 577 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.