Cactus (NYSE:WHD) President Joel Bender Sells 63,963 Shares of 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 transaction of $3,245,482.62. Following the sale, the president directly owned 242,838 shares in the company, valued at $12,321,600.12. The trade was a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cactus Trading Up 3.2%

Shares of NYSE WHD opened at $51.64 on Tuesday. The firm has a 50 day moving average price of $53.87 and a two-hundred day moving average price of $45.88. The stock has a market cap of $4.12 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 4.91 and a beta of 1.25. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81.

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

Cactus Dividend Announcement

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

Analyst Upgrades and Downgrades

WHD has been the subject of several recent research reports. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays upped their target price on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Citigroup increased their target price on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System boosted its position in shares of Cactus by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock valued at $460,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd increased its holdings in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after purchasing an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Cactus by 0.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after buying an additional 269 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Cactus by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after buying an additional 300 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

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.