Cactus (NYSE:WHD) CEO Sells 25,000 Shares

Cactus, Inc. (NYSE:WHD) CEO Steven Bender sold 25,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the completion of the transaction, the chief executive officer directly owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. The trade was a 20.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cactus Price Performance

Shares of WHD stock traded up $2.95 during midday trading on Monday, reaching $70.85. 822,173 shares of the company were exchanged, compared to its average volume of 919,348. The company’s 50 day moving average price is $56.15 and its two-hundred day moving average price is $54.82. The company has a market cap of $5.68 billion, a P/E ratio of 60.56, a PEG ratio of 2.43 and a beta of 1.36. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $71.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The business had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was up 64.3% on a year-over-year basis. On average, sell-side analysts expect that Cactus, Inc. will post 3.07 earnings per share 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 paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is presently 47.86%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Barclays upped their price target on Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Piper Sandler increased their price objective on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup lifted their target price on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cactus has an average rating of “Moderate Buy” and an average target price of $65.20.

Institutional Trading of Cactus

A number of hedge funds have recently bought and sold shares of the company. VELA Investment Management LLC lifted its position in Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after purchasing an additional 28,493 shares during the period. Paradice Investment Management LLC lifted its holdings in shares of Cactus by 16.1% during the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock worth $30,877,000 after acquiring an additional 93,714 shares during the period. UBS Group AG boosted its position in shares of Cactus by 81.8% during the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after acquiring an additional 171,223 shares in the last quarter. Vest Financial LLC increased its stake in Cactus by 24.7% in the fourth quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock valued at $6,147,000 after acquiring an additional 26,669 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in Cactus in the first quarter valued at about $41,895,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

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.