Key Points
- Cactus President Joel Bender sold 100,000 shares at an average price of $70.37, generating $7.04 million in proceeds. The Rule 10b5-1 transaction reduced his ownership by 70.66% to 41,519 shares.
- Cactus reported strong quarterly results, with earnings of $0.93 per share versus the $0.64 consensus estimate and revenue of $449.53 million, up 64.3% year over year.
- The company increased its quarterly dividend to $0.15 per share, or $0.60 annualized, while analysts maintained a consensus “Hold” rating and an average price target of $66.80.
Cactus, Inc. (NYSE:WHD - Get Free Report) President Joel Bender sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the sale, the president owned 41,519 shares of the company's stock, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joel Bender also recently made the following trade(s):
- On Thursday, July 30th, Joel Bender sold 86,700 shares of Cactus stock. The shares were sold at an average price of $57.62, for a total transaction of $4,995,654.00.
Cactus Stock Up 2.1%
WHD stock opened at $72.20 on Thursday. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $74.07. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 61.71, a PEG ratio of 2.49 and a beta of 1.37. The company has a 50 day moving average of $61.11 and a two-hundred day moving average of $56.66.
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, beating 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 business had revenue of $449.53 million for the quarter, compared to analysts' expectations of $400.82 million. During the same period in the previous year, the company posted $0.66 EPS. Cactus's revenue was up 64.3% on a year-over-year basis. On average, equities analysts anticipate that Cactus, Inc. will post 3.12 earnings per share for the current fiscal year.
Cactus Increases Dividend
The company 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 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 dividend on an annualized basis and a yield of 0.8%. Cactus's payout ratio is 51.28%.
Institutional Trading of Cactus
Several large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Cactus during the 2nd quarter valued at about $35,000. Aster Capital Management DIFC Ltd boosted its position in Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock worth $34,000 after purchasing an additional 314 shares during the period. Johnson Financial Group Inc. bought a new stake in Cactus during the third quarter worth approximately $33,000. Advisors Asset Management Inc. grew its holdings in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in Cactus during the second quarter valued at approximately $58,000. Institutional investors own 85.11% of the company's stock.
Wall Street Analyst Weigh In
WHD has been the subject of a number of recent research reports. Piper Sandler raised their price target on Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Citigroup cut Cactus from a "buy" rating to a "neutral" rating and boosted their price target for the company from $67.00 to $75.00 in a research note on Thursday, August 20th. Wall Street Zen upgraded Cactus from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Stifel Nicolaus raised their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $66.80.
Read Our Latest Report on WHD
Cactus Company Profile
(
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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