Cactus (NYSE:WHD) CEO Sells $6,197,000.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $61.97, for a total value of $6,197,000.00. Following the sale, the chief executive officer owned 120,527 shares in the company, valued at $7,469,058.19. The trade was a 45.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Scott Bender sold 100,000 shares of Cactus stock. The shares were sold at an average price of $63.89, for a total transaction of $6,389,000.00.
• On Monday, July 27th, Scott Bender sold 13,300 shares of Cactus stock. The stock was sold at an average price of $55.07, for a total transaction of $732,431.00.

Cactus Price Performance

Shares of NYSE WHD traded up $1.28 during mid-day trading on Friday, reaching $63.48. The company had a trading volume of 493,450 shares, compared to its average volume of 884,375. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 2.19 and a beta of 1.42. 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, Inc. has a one year low of $33.20 and a one year high of $74.07. The business’s 50-day simple moving average is $67.17 and its 200 day simple moving average is $58.71.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.Cactus’s revenue was up 64.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, research analysts predict that Cactus, Inc. will post 3.12 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a $0.15 dividend. This is a boost from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Cactus’s dividend payout ratio is currently 51.28%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Cactus by 202.3% during the first quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after acquiring an additional 1,146,766 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Cactus in the first quarter worth about $41,895,000. Encompass Capital Advisors LLC purchased a new position in Cactus in the first quarter worth about $36,262,000. Wasatch Advisors LP grew its stake in shares of Cactus by 79.0% during the 1st quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after purchasing an additional 595,562 shares during the period. Finally, Capital International Investors grew its stake in shares of Cactus by 27.0% during the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after purchasing an additional 498,210 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reduced their price objective on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Stifel Nicolaus increased their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Piper Sandler raised their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $66.40.

About Cactus

Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.

The company’s offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.

Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.