Cactus (NYSE:WHD) Director Sells $678,840.00 in Stock

Cactus, Inc. (NYSE:WHD) Director Michael Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total value of $678,840.00. Following the transaction, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. The trade was a 42.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cactus Stock Down 1.7%

Shares of NYSE:WHD opened at $56.87 on Friday. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 53.65, a PEG ratio of 2.17 and a beta of 1.37. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $59.25. The business’s 50 day moving average is $51.56 and its 200 day moving average is $49.84.

Cactus (NYSE:WHD) last announced its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.Cactus’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, sell-side analysts forecast that Cactus, Inc. will post 2.84 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s payout ratio is presently 52.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP lifted its position in shares of Cactus by 36.7% during the 1st quarter. Quantinno Capital Management LP now owns 8,251 shares of the company’s stock valued at $391,000 after buying an additional 2,216 shares during the last quarter. Dean Capital Management lifted its position in shares of Cactus by 90.0% during the 1st quarter. Dean Capital Management now owns 81,280 shares of the company’s stock valued at $3,850,000 after buying an additional 38,502 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Cactus by 2.0% during the 1st quarter. Gabelli Funds LLC now owns 74,099 shares of the company’s stock valued at $3,510,000 after buying an additional 1,472 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cactus by 17.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 10,430 shares of the company’s stock valued at $494,000 after buying an additional 1,538 shares during the last quarter. Finally, Morningstar Investment Management LLC purchased a new position in shares of Cactus during the 1st quarter valued at $949,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WHD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Friday, March 27th. Piper Sandler began coverage on Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price on the stock. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup lifted their target price on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cactus currently has an average rating of “Moderate Buy” and an average target price of $58.00.

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.