Cactus, Inc. (NYSE:WHD) CEO Scott Bender Sells 108,700 Shares

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 108,700 shares of Cactus stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $56.18, for a total transaction of $6,106,766.00. Following the completion of the transaction, the chief executive officer now directly owns 219,320 shares in the company, valued at $12,321,397.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cactus Price Performance

Shares of NYSE WHD opened at $55.07 on Tuesday. The firm has a market capitalization of $4.37 billion, a P/E ratio of 27.26, a PEG ratio of 3.67 and a beta of 2.03. Cactus, Inc. has a one year low of $31.36 and a one year high of $58.30. The company’s fifty day moving average is $50.33 and its two-hundred day moving average is $43.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 2.76.

Cactus (NYSE:WHD) last issued its earnings results on Monday, August 7th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.69 by $0.15. The company had revenue of $305.82 million for the quarter, compared to analyst estimates of $297.99 million. Cactus had a net margin of 14.35% and a return on equity of 22.22%. The business’s revenue was up 79.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Analysts forecast that Cactus, Inc. will post 2.64 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Monday, August 28th will be given a dividend of $0.12 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, August 25th. Cactus’s payout ratio is presently 23.76%.

Institutional Investors Weigh In On Cactus

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas boosted its position in shares of Cactus by 107.8% in the 4th quarter. Teacher Retirement System of Texas now owns 18,006 shares of the company’s stock worth $905,000 after buying an additional 9,342 shares in the last quarter. Intrust Bank NA boosted its position in shares of Cactus by 8.8% in the 4th quarter. Intrust Bank NA now owns 15,235 shares of the company’s stock worth $766,000 after buying an additional 1,235 shares in the last quarter. Keybank National Association OH boosted its position in shares of Cactus by 15.6% in the 1st quarter. Keybank National Association OH now owns 13,979 shares of the company’s stock worth $576,000 after buying an additional 1,888 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $1,134,000. Finally, Islay Capital Management LLC boosted its position in shares of Cactus by 133.1% in the 1st quarter. Islay Capital Management LLC now owns 10,080 shares of the company’s stock worth $416,000 after buying an additional 5,755 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent research reports. Barclays lifted their target price on shares of Cactus from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Stifel Nicolaus boosted their price objective on shares of Cactus from $61.00 to $68.00 in a research note on Thursday, August 10th. Piper Sandler boosted their price objective on shares of Cactus from $46.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Cactus in a research note on Tuesday, August 8th. Finally, Citigroup boosted their price objective on shares of Cactus from $40.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.29.

Cactus Company Profile

Cactus, Inc designs, manufactures, and sells a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.