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 that occurred on 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cactus Stock Up 1.6 %

WHD traded up $1.06 during trading on Friday, hitting $67.22. 763,298 shares of the company’s stock traded hands, compared to its average volume of 739,930. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 3.29 and a beta of 1.95. The company’s 50 day simple moving average is $60.12 and its two-hundred day simple 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.

Cactus (NYSE:WHD) last issued 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 during 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%. During the same quarter in the previous year, the firm earned $0.80 EPS. Cactus’s revenue was up 1.8% on a year-over-year basis. Analysts predict that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.

Cactus Dividend Announcement

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

Hedge Funds Weigh In On Cactus

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Cactus in the 1st quarter worth approximately $115,000. Susquehanna Fundamental Investments LLC bought a new stake in Cactus in the 1st quarter valued at $1,423,000. Sei Investments Co. lifted its stake in Cactus by 13.2% in the 1st quarter. Sei Investments Co. now owns 345,228 shares of the company’s stock worth $17,291,000 after purchasing an additional 40,228 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cactus by 330.4% during the 1st quarter. Russell Investments Group Ltd. now owns 43,266 shares of the company’s stock valued at $2,167,000 after purchasing an additional 33,214 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Cactus by 10.0% during the first quarter. ProShare Advisors LLC now owns 11,779 shares of the company’s stock valued at $590,000 after purchasing an additional 1,072 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. 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. Bank of America boosted their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Barclays lowered shares of 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, Piper Sandler cut 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.40.

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.