Insider Selling: Cactus (NYSE:WHD) President Sells 86,700 Shares

Key Points

• Cactus President Joel Bender sold 86,700 shares at an average price of $57.62, generating approximately $5.0 million. His direct ownership fell 67.62% to 41,519 shares.
• Cactus reported quarterly EPS of $0.93, beating estimates of $0.64, while revenue rose 64.3% year over year to $449.53 million.
• The company increased its quarterly dividend to $0.15 per share, or $0.60 annually, representing a 0.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $65.20.

Cactus, Inc. (NYSE:WHD - Get Free Report) President Joel Bender sold 86,700 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $57.62, for a total value of $4,995,654.00. Following the completion of the sale, the president directly owned 41,519 shares of the company's stock, valued at $2,392,324.78. The trade was a 67.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cactus Price Performance

Shares of WHD traded down $1.14 during trading hours on Monday, reaching $63.87. The company had a trading volume of 897,245 shares, compared to its average volume of 806,155. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $65.19. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 2.45 and a beta of 1.36. The firm has a 50 day simple moving average of $55.55 and a 200-day simple moving average of $54.41. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.29. The firm had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The firm's quarterly revenue was up 64.3% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. Research analysts expect that Cactus, Inc. will post 2.92 earnings per share for the current year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Cactus's previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus's payout ratio is currently 47.86%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WHD. Johnson Financial Group Inc. bought a new position in shares of Cactus during the third quarter worth $33,000. Aster Capital Management DIFC Ltd lifted its stake in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after buying an additional 314 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after buying an additional 543 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Cactus by 39,200.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company's stock valued at $54,000 after buying an additional 1,176 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Cactus in the second quarter valued at approximately $58,000. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

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