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 stock was sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the sale, the president owned 41,519 shares in the company, valued at $2,392,324.78. This represents a 67.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Cactus Trading Down 1.8%
Shares of WHD stock opened at $63.87 on Tuesday. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $65.19. The stock's fifty day moving average price is $55.55 and its two-hundred day moving average price is $54.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The company has a market cap of $5.12 billion, a PE ratio of 54.59, a P/E/G ratio of 2.45 and a beta of 1.36.
Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The company had revenue of $449.53 million during the quarter, compared to analysts' expectations of $400.82 million. During the same quarter in the previous year, the firm earned $0.66 EPS. Cactus's revenue was up 64.3% on a year-over-year basis. Equities analysts predict that Cactus, Inc. will post 2.92 EPS for the current fiscal year.
Cactus Increases Dividend
The firm 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 is a boost from Cactus's previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 31st. Cactus's dividend payout ratio (DPR) is presently 47.86%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on WHD shares. Barclays increased their target price on shares of Cactus from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday. Citigroup lifted their price target on shares of Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a report 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 increased their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Friday. Finally, Piper Sandler raised 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. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cactus has a consensus rating of "Moderate Buy" and an average price target of $65.20.
Read Our Latest Research Report on WHD
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Cactus by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company's stock worth $181,074,000 after buying an additional 659,366 shares during the period. State Street Corp grew its holdings in Cactus by 3.0% during the 4th quarter. State Street Corp now owns 2,844,994 shares of the company's stock worth $129,959,000 after acquiring an additional 83,190 shares during the last quarter. Capital International Investors increased its position in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company's stock valued at $107,062,000 after acquiring an additional 498,210 shares during the period. First Trust Advisors LP increased its position in Cactus by 13.7% in the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company's stock valued at $99,033,000 after acquiring an additional 251,283 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Cactus by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company's stock valued at $89,729,000 after acquiring an additional 28,415 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.
About Cactus
(
Get Free Report)
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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