Insider Selling: Cactus (NYSE:WHD) President Sells $7,037,000.00 in Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total value of $7,037,000.00. Following the transaction, the president directly owned 41,519 shares of the company’s stock, valued at $2,921,692.03. The trade was a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 30th, Joel Bender sold 86,700 shares of Cactus stock. The stock was sold at an average price of $57.62, for a total transaction of $4,995,654.00.

Cactus Price Performance

Shares of NYSE WHD opened at $70.37 on Friday. The stock’s 50-day simple moving average is $61.84 and its 200-day simple moving average is $56.86. The firm has a market capitalization of $5.64 billion, a PE ratio of 60.15, a price-to-earnings-growth ratio of 2.53 and a beta of 1.37. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $74.07. 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 released its quarterly 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 net margin of 6.01% and a return on equity of 16.66%. The firm had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Cactus’s revenue for the quarter was up 64.3% on a year-over-year basis. As a group, equities research analysts forecast that Cactus, Inc. will post 3.12 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup lowered shares of Cactus from a “buy” rating to a “neutral” rating and increased their price target for the company from $67.00 to $75.00 in a research report on Thursday, August 20th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Piper Sandler lifted their price target on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays raised their target price on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Cactus has an average rating of “Hold” and an average price target of $66.80.

Institutional Trading of Cactus

Several hedge funds have recently added to or reduced their stakes in WHD. Maryland State Retirement & Pension System boosted its holdings in Cactus by 2.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock worth $460,000 after buying an additional 208 shares in the last quarter. Covestor Ltd lifted its position in shares of Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after buying an additional 219 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after purchasing an additional 269 shares during the period. Oregon Public Employees Retirement Fund increased its position in Cactus by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after buying an additional 300 shares during the period. Finally, California State Teachers Retirement System raised its stake in Cactus by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock valued at $2,909,000 after purchasing an additional 306 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

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.