Insider Selling: Cactus (NYSE:WHD) President Sells 29,228 Shares of Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 29,228 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $50.01, for a total transaction of $1,461,692.28. Following the completion of the sale, the president directly owned 213,610 shares of the company’s stock, valued at approximately $10,682,636.10. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, March 10th, Joel Bender sold 106,809 shares of Cactus stock. The shares were sold at an average price of $49.92, for a total transaction of $5,331,905.28.
• On Thursday, March 5th, Joel Bender sold 63,963 shares of Cactus stock. The stock was sold at an average price of $50.74, for a total value of $3,245,482.62.

Cactus Stock Down 0.1%

NYSE WHD traded down $0.06 on Wednesday, reaching $48.54. 1,200,188 shares of the stock traded hands, compared to its average volume of 1,282,897. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 4.77 and a beta of 1.25. The company has a fifty day moving average price of $53.98 and a 200-day moving average price of $45.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The firm had revenue of $261.20 million during the quarter, compared to the consensus estimate of $250.60 million. During the same period in the previous year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus’s payout ratio is presently 23.33%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Citigroup lifted their target price on shares of Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Piper Sandler began coverage on shares of Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target on the stock. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently added to or reduced their stakes in the business. State of Tennessee Department of Treasury grew its holdings in Cactus by 12.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company’s stock worth $1,619,000 after acquiring an additional 3,823 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Cactus in the fourth quarter valued at about $335,000. Cim LLC acquired a new stake in Cactus in the 4th quarter worth about $218,000. Voloridge Investment Management LLC increased its position in shares of Cactus by 25.9% during the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company’s stock worth $3,382,000 after purchasing an additional 15,229 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Cactus by 20.0% during the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after acquiring an additional 659,366 shares during the last quarter. 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.