Cactus, Inc. (NYSE:WHD) COO Steven Bender Sells 100,000 Shares

Cactus, Inc. (NYSE:WHD) COO Steven Bender sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the sale, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at $3,762,003.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cactus Trading Up 1.6 %

Cactus stock opened at $67.22 on Friday. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $69.77. The stock has a 50-day moving average price of $60.28 and a 200 day moving average price of $56.36. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is currently 18.44%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a report on Monday, November 4th. Finally, Bank of America boosted their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.40.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Cactus in the 3rd quarter valued at $34,000. GAMMA Investing LLC raised its position in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after acquiring an additional 340 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cactus in the first quarter worth about $115,000. Covestor Ltd boosted its stake in shares of Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.