Cactus, Inc. (NYSE:WHD) COO Sells $6,535,000.00 in Stock

Cactus, Inc. (NYSE:WHD) COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Cactus Trading Up 1.6 %

Shares of NYSE WHD traded up $1.06 during midday trading on Friday, hitting $67.22. The company’s stock had a trading volume of 763,298 shares, compared to its average volume of 739,930. The business’s 50 day moving average is $60.12 and its two-hundred day moving average is $56.25. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $69.77. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.35 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same period in the prior year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts expect 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%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in Cactus in the third quarter worth about $34,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 340 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cactus in the first quarter valued at approximately $115,000. Covestor Ltd grew its holdings 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 purchasing an additional 1,795 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of 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 purchasing an additional 307 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WHD. Stifel Nicolaus reduced their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler decreased their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a report on Monday. Finally, Bank of America raised their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.40.

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.