Cactus (NYSE:WHD) President Sells $3,245,482.62 in Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 63,963 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $50.74, for a total value of $3,245,482.62. Following the completion of the sale, the president directly owned 242,838 shares in the company, valued at approximately $12,321,600.12. This represents a 20.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cactus Stock Up 3.2%

Shares of NYSE:WHD traded up $1.63 on Monday, hitting $51.64. 1,619,440 shares of the company traded hands, compared to its average volume of 1,060,250. The company has a market cap of $4.12 billion, a PE ratio of 21.51, a PEG ratio of 4.91 and a beta of 1.25. The stock has a 50 day simple moving average of $53.87 and a 200-day simple moving average of $45.88. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01.

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

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus’s payout ratio is presently 23.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Advisors Asset Management Inc. boosted its stake in shares of Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the period. AQR Capital Management LLC grew its stake in Cactus by 101.1% in the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock worth $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cactus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares in the last quarter. United Services Automobile Association bought a new position in shares of Cactus during the 1st quarter worth $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cactus by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after buying an additional 46,835 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WHD. Barclays boosted their target price on shares of Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Piper Sandler started coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target on the stock. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup upped their price objective on Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Cactus presently has a consensus rating of “Moderate Buy” and an average price target of $56.33.

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.