Insider Selling: Cactus (NYSE:WHD) CEO Sells $1,691,250.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Steven Bender sold 25,000 shares of the firm’s 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 sale, the chief executive officer directly owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cactus Stock Performance

Shares of NYSE WHD opened at $72.41 on Thursday. The stock’s fifty day simple moving average is $56.91 and its 200 day simple moving average is $55.18. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 2.58 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. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $72.87.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The business had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. During the same period in the prior year, the business posted $0.66 earnings per share. Cactus’s revenue was up 64.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 yield of 0.8%. The ex-dividend date is Monday, August 31st. This is a boost from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is presently 47.86%.

Hedge Funds Weigh In On Cactus

Institutional investors and hedge funds have recently bought and sold shares of the business. VELA Investment Management LLC boosted its holdings in shares of Cactus by 24.2% during 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 grew its position in Cactus by 16.1% during the fourth quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock valued at $30,877,000 after purchasing an additional 93,714 shares in the last quarter. UBS Group AG grew its position in Cactus by 81.8% during the fourth quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after purchasing an additional 171,223 shares in the last quarter. Vest Financial LLC increased its stake in Cactus by 24.7% in the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock valued at $6,147,000 after buying an additional 26,669 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in Cactus in the 1st quarter valued at approximately $41,895,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Barclays raised their price objective on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Piper Sandler lifted their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.20.

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.