Scott Bender Sells 100,000 Shares of Cactus (NYSE:WHD) Stock

Key Points

• CEO Scott Bender sold 100,000 Cactus shares at an average price of $63.89, worth approximately $6.39 million, under a pre-arranged Rule 10b5-1 trading plan. He now directly owns 120,527 shares, a 45.35% reduction in his position.
• Cactus reported strong quarterly results, with earnings of $0.93 per share and revenue of $449.53 million, surpassing estimates and increasing 64.3% year over year.
• The company raised its quarterly dividend to $0.15 per share, equivalent to an annualized $0.60 dividend and 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) CEO Scott Bender sold 100,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.89, for a total value of $6,389,000.00. Following the completion of the transaction, the chief executive officer directly owned 120,527 shares in the company, valued at approximately $7,700,470.03. This represents a 45.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Bender also recently made the following trade(s):

• On Monday, July 27th, Scott Bender sold 13,300 shares of Cactus stock. The shares were sold at an average price of $55.07, for a total value of $732,431.00.

Cactus Stock Performance

NYSE WHD traded down $1.11 during trading hours on Wednesday, reaching $66.10. The stock had a trading volume of 143,254 shares, compared to its average volume of 915,514. The stock has a market cap of $5.30 billion, a P/E ratio of 56.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.36. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $68.00. The stock has a fifty day moving average of $55.64 and a 200 day moving average of $54.52. 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 (NYSE:WHD - Get Free Report) last released its quarterly earnings data 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 return on equity of 16.66% and a net margin of 6.01%.The business had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The business's quarterly revenue was up 64.3% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cactus's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.9%. Cactus's payout ratio is 47.86%.

Wall Street Analyst Weigh In

Several research firms have commented on WHD. Citigroup boosted their price objective on Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Stifel Nicolaus raised their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday. Piper Sandler boosted their target price on Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Barclays upped their price target on 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 assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $65.20.

Institutional Investors Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its position in shares of Cactus by 2.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company's stock worth $460,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd boosted its holdings in Cactus by 8.6% during the fourth quarter. Covestor Ltd now owns 2,758 shares of the company's stock worth $126,000 after buying an additional 219 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Cactus by 0.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company's stock valued at $2,532,000 after acquiring an additional 269 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Cactus by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company's stock worth $719,000 after purchasing an additional 300 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Cactus by 0.5% during the second quarter. California State Teachers Retirement System now owns 66,538 shares of the company's stock worth $2,909,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source