Cactus, Inc. (NYSE:WHD) COO Steven Bender Sells 19,362 Shares of Stock

Cactus, Inc. (NYSE:WHD) COO Steven Bender sold 19,362 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $55.06, for a total value of $1,066,071.72. Following the transaction, the chief operating officer now directly owns 40,000 shares in the company, valued at approximately $2,202,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cactus Price Performance

Shares of NYSE WHD opened at $55.07 on Tuesday. The stock has a market capitalization of $4.37 billion, a PE ratio of 27.26, a P/E/G ratio of 3.67 and a beta of 2.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.76 and a quick ratio of 1.60. The business has a fifty day moving average price of $50.33 and a two-hundred day moving average price of $43.60. Cactus, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $58.30.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.15. The firm had revenue of $305.82 million during the quarter, compared to analysts’ expectations of $297.99 million. Cactus had a return on equity of 22.22% and a net margin of 14.35%. The company’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. As a group, equities analysts predict that Cactus, Inc. will post 2.64 earnings per share for the current fiscal year.

Cactus Increases Dividend

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

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. Public Employees Retirement System of Ohio raised its holdings in shares of Cactus by 59.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock worth $26,000 after buying an additional 254 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Cactus during the 1st quarter worth $27,000. Belpointe Asset Management LLC acquired a new position in shares of Cactus during the 1st quarter worth $27,000. State of Wyoming acquired a new position in shares of Cactus during the 4th quarter worth $28,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Cactus by 886.7% during the 1st quarter. NewEdge Advisors LLC now owns 740 shares of the company’s stock worth $31,000 after buying an additional 665 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Cactus

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.