Insider Selling: Cactus (NYSE:WHD) CEO Sells $2,453,429.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Stephen Tadlock sold 38,455 shares of Cactus stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the transaction, the chief executive officer directly owned 43,178 shares in the company, valued at approximately $2,754,756.40. The trade was a 47.11% 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 the SEC website.

Cactus Trading Down 1.0%

Shares of WHD opened at $67.87 on Friday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 58.01, a PEG ratio of 2.46 and a beta of 1.36. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $68.91. 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 firm has a fifty day simple moving average of $56.15 and a two-hundred day simple moving average of $54.81.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The firm had revenue of $449.53 million for the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, research analysts anticipate that Cactus, Inc. will post 3.07 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 given a $0.15 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is 47.86%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their price objective on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Piper Sandler upped their target price on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. bought a new stake in Cactus in the third quarter worth $33,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after acquiring an additional 314 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Cactus by 39,200.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after acquiring an additional 1,176 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Cactus in the 2nd quarter worth about $58,000. Institutional investors 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.