Insider Selling: Cactus (NYSE:WHD) CEO Sells $6,389,000.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.89, for a total value of $6,389,000.00. Following the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,700,470.03. This represents a 45.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $732,431.00.

Cactus Stock Down 1.0%

WHD opened at $67.87 on Friday. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $68.91. 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 firm’s fifty day moving average price is $56.15 and its two-hundred day moving average price is $54.81. The company has a market capitalization of $5.44 billion, a P/E ratio of 58.01, a P/E/G ratio of 2.46 and a beta of 1.36.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (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 net margin of 6.01% and a return on equity of 16.66%. The business’s revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. On average, analysts anticipate that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WHD. Johnson Financial Group Inc. acquired a new stake in Cactus during the 3rd quarter valued at $33,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares during the last quarter. Advisors Asset Management Inc. grew its holdings 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 worth $47,000 after purchasing an additional 543 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Cactus by 39,200.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after buying an additional 1,176 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Cactus in the second quarter valued at about $58,000. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Piper Sandler increased their target price on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Citigroup upped their price target on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.