Joel Bender Sells 86,700 Shares of Cactus (NYSE:WHD) Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 86,700 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the transaction, the president directly owned 41,519 shares of the company’s stock, valued at $2,392,324.78. This represents a 67.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cactus Price Performance

Shares of NYSE:WHD opened at $67.22 on Wednesday. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 57.45, a price-to-earnings-growth ratio of 2.29 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The business’s 50 day simple moving average is $55.64 and its 200-day simple moving average is $54.52. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $67.48.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share 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 period last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 64.3% on a year-over-year basis. As a group, equities analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. This is a positive change from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s payout ratio is 47.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of Cactus by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after buying an additional 659,366 shares in the last quarter. State Street Corp lifted its position in shares of Cactus by 3.0% in the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after acquiring an additional 83,190 shares in the last quarter. Capital International Investors boosted its position in shares of Cactus by 27.0% in the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares during the period. First Trust Advisors LP grew its stake in Cactus by 13.7% during the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after acquiring an additional 251,283 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cactus by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock valued at $89,729,000 after buying an additional 28,415 shares during the period. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WHD. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Citigroup boosted their target price on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Stifel Nicolaus lifted their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays upped their price target on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.20.

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.