Cactus (NYSE:WHD) President Sells $5,331,905.28 in Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 106,809 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the completion of the transaction, the president directly owned 106,801 shares of the company’s stock, valued at $5,331,505.92. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 6th, Joel Bender sold 29,228 shares of Cactus stock. The shares were sold at an average price of $50.01, for a total transaction of $1,461,692.28.
• On Thursday, March 5th, Joel Bender sold 63,963 shares of Cactus stock. The shares were sold at an average price of $50.74, for a total value of $3,245,482.62.

Cactus Trading Down 0.1%

Cactus stock traded down $0.06 during mid-day trading on Wednesday, hitting $48.54. The company’s stock had a trading volume of 1,200,188 shares, compared to its average volume of 1,282,897. The stock’s fifty day moving average is $53.98 and its two-hundred day moving average is $45.94. The firm has a market capitalization of $3.88 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 4.77 and a beta of 1.25. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $59.25. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01.

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

Cactus Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on WHD. Citigroup boosted their price objective on Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Barclays boosted their price objective on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Piper Sandler initiated coverage on shares of Cactus in a research note on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price objective on the stock. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.33.

Institutional Trading of Cactus

Several large investors have recently made changes to their positions in WHD. State of Tennessee Department of Treasury increased its holdings in Cactus by 12.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company’s stock valued at $1,619,000 after purchasing an additional 3,823 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Cactus during the 4th quarter valued at approximately $335,000. Cim LLC bought a new stake in shares of Cactus during the fourth quarter valued at about $218,000. Voloridge Investment Management LLC grew its position in Cactus by 25.9% in the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company’s stock worth $3,382,000 after acquiring an additional 15,229 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 valued at $181,074,000 after acquiring an additional 659,366 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.