Insider Selling: Cactus (NYSE:WHD) CEO Sells 38,455 Shares of Stock

Cactus, Inc. (NYSE:WHD) CEO Stephen Tadlock sold 38,455 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the transaction, the chief executive officer directly owned 43,178 shares in the company, valued at $2,754,756.40. This represents a 47.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cactus Stock Performance

Shares of Cactus stock traded down $1.11 during trading on Wednesday, hitting $66.10. 143,254 shares of the company’s stock were exchanged, compared to its average volume of 915,514. The business has a 50-day simple moving average of $55.64 and a 200-day simple moving average of $54.52. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 2.29 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $68.00.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.Cactus’s revenue for the quarter was up 64.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, research analysts forecast that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $0.15 per share. This is a boost from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is 47.86%.

Institutional Investors Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its holdings in shares of Cactus by 2.1% in 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 grew its position in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $126,000 after acquiring an additional 219 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after acquiring an additional 269 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cactus by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after acquiring an additional 300 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Cactus by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock valued at $2,909,000 after purchasing an additional 306 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WHD. Citigroup raised their target price on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Stifel Nicolaus upped their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler lifted their price target on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays raised their price objective on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

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.