Key Points
- Cactus CEO Stephen Tadlock sold 38,455 shares for approximately $2.45 million, reducing his ownership stake by 47.11% to 43,178 shares.
- Cactus reported strong quarterly results, with EPS of $0.93 versus the $0.64 consensus and revenue of $449.53 million, up 64.3% year over year.
- The company raised its quarterly dividend to $0.15 per share, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and a $65.20 average price target.
Cactus, Inc. (NYSE:WHD - Get Free Report) CEO Stephen Tadlock sold 38,455 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the sale, the chief executive officer owned 43,178 shares in the company, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Cactus Stock Down 1.9%
WHD opened at $65.91 on Thursday. 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 firm's fifty day moving average is $55.75 and its 200 day moving average is $54.61. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 56.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.36. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $68.00.
Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.64 by $0.29. The business had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The business's revenue was up 64.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. On average, sell-side analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.
Cactus Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. This is a boost from Cactus's previous quarterly dividend of $0.14. Cactus's payout ratio is presently 47.86%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares during the last quarter. AQR Capital Management LLC raised its stake in Cactus by 101.1% during the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company's stock valued at $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cactus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company's stock valued at $1,819,000 after purchasing an additional 1,733 shares during the last quarter. United Services Automobile Association bought a new position in Cactus during the first quarter valued at $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cactus by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company's stock worth $10,400,000 after buying an additional 46,835 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WHD has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Cactus from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Monday. Stifel Nicolaus upped their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Citigroup raised their target price on shares of Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Piper Sandler lifted their price target on shares of Cactus from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cactus presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.20.
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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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