Cactus (NYSE:WHD) CEO Steven Bender Sells 25,000 Shares of Stock

Key Points

• CEO Steven Bender sold 25,000 Cactus shares at an average price of $67.65, totaling approximately $1.69 million. His direct ownership fell 20.12% to 99,241 shares.
• Cactus reported a strong quarter, with EPS of $0.93 exceeding estimates of $0.64 and revenue rising 64.3% year over year to $449.53 million. Shares recently traded near their 52-week high at $70.85.
• The company increased its quarterly dividend from $0.14 to $0.15 per share, equivalent to $0.60 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $65.20.

Cactus, Inc. (NYSE:WHD - Get Free Report) CEO Steven Bender sold 25,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.65, for a total value of $1,691,250.00. Following the completion of the sale, the chief executive officer directly owned 99,241 shares in the company, valued at $6,713,653.65. This represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cactus Stock Performance

Shares of WHD traded up $2.95 during mid-day trading on Monday, reaching $70.85. 822,173 shares of the company's stock were exchanged, compared to its average volume of 919,348. The stock has a market capitalization of $5.68 billion, a PE ratio of 60.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.36. The business's fifty day simple moving average is $56.15 and its 200-day simple moving average is $54.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $71.09.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company had revenue of $449.53 million during the quarter, compared to analysts' expectations of $400.82 million. During the same quarter last year, the business earned $0.66 EPS. The business's revenue was up 64.3% on a year-over-year basis. On average, equities research analysts expect that Cactus, Inc. will post 3.07 earnings per share for the current year.

Cactus Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is a boost from Cactus's previous quarterly dividend of $0.14. Cactus's dividend payout ratio (DPR) is 47.86%.

Institutional Trading of Cactus

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Cactus by 29.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,532 shares of the company's stock worth $130,000 after purchasing an additional 577 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Cactus in the 2nd quarter worth approximately $58,000. CoreCap Advisors LLC bought a new stake in shares of Cactus in the 2nd quarter valued at approximately $321,000. Pacer Advisors Inc. raised its position in shares of Cactus by 128.0% during the 1st quarter. Pacer Advisors Inc. now owns 7,142 shares of the company's stock valued at $338,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Carlson Capital L.P. acquired a new stake in shares of Cactus during the 1st quarter valued at approximately $1,611,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WHD shares. Stifel Nicolaus lifted their target price on Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wall Street Zen upgraded Cactus from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup upped their target price on Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Finally, Barclays increased 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, August 3rd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.20.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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