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

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

Cactus Trading Up 1.6 %

WHD opened at $67.22 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock’s 50 day moving average price is $60.28 and its 200-day moving average price is $56.36. Cactus, Inc. has a one year low of $37.58 and a one year high of $69.77. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WHD. Barclays cut 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. Bank of America boosted their price objective on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. 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 note on Friday, October 11th. Finally, Piper Sandler cut their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.40.

Institutional Trading of Cactus

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

About Cactus

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.