Insider Selling: Cactus (NYSE:WHD) CEO Sells 38,455 Shares

Cactus, Inc. (NYSE:WHD) CEO Stephen Tadlock sold 38,455 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the sale, the chief executive officer owned 43,178 shares in the company, valued at $2,754,756.40. This represents a 47.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cactus Price Performance

Shares of NYSE:WHD traded down $1.11 during trading on Wednesday, hitting $66.10. 143,254 shares of the company were exchanged, compared to its average volume of 915,514. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $68.00. The company has a market capitalization of $5.30 billion, a P/E ratio of 56.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.36. 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 business’s 50 day moving average is $55.64 and its 200-day moving average is $54.52.

Cactus (NYSE:WHD) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.Cactus’s revenue for the quarter was up 64.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Equities analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. Cactus’s payout ratio is 47.86%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research reports. Barclays raised their price objective on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler boosted their price objective 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 lifted their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Citigroup upped their target price on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. 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, Cactus has an average rating of “Moderate Buy” and a consensus price target of $65.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Cactus by 29.5% in the second quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock worth $130,000 after purchasing an additional 577 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of Cactus in the 2nd quarter valued at about $58,000. CoreCap Advisors LLC bought a new stake in Cactus in the 2nd quarter valued at about $321,000. Pacer Advisors Inc. lifted its position in Cactus by 128.0% in the 1st quarter. Pacer Advisors Inc. now owns 7,142 shares of the company’s stock valued at $338,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Carlson Capital L.P. acquired a new position in Cactus during the 1st quarter valued at about $1,611,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.