Stephen Tadlock Sells 38,455 Shares of Cactus (NYSE:WHD) Stock

Cactus, Inc. (NYSE:WHD) CEO Stephen Tadlock sold 38,455 shares of Cactus stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the transaction, the chief executive officer owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. This represents a 47.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cactus Stock Performance

NYSE WHD opened at $68.31 on Friday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 2.36 and a beta of 1.36. The stock has a 50-day moving average of $55.95 and a 200 day moving average of $54.72. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $68.91.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The business 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%.The business’s revenue was up 64.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. Sell-side analysts anticipate that Cactus, Inc. will post 3.07 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Cactus’s previous quarterly dividend of $0.14. Cactus’s payout ratio is presently 47.86%.

Institutional Investors Weigh In On Cactus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares in the last quarter. AQR Capital Management LLC raised its holdings in Cactus by 101.1% in the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after acquiring an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cactus by 4.6% in 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 acquiring an additional 1,733 shares during the last quarter. United Services Automobile Association acquired a new stake in Cactus in the 1st quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cactus by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock worth $10,400,000 after purchasing an additional 46,835 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the topic of several recent analyst reports. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Citigroup upped their price target on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays raised their price target on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price objective on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.20.

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.