Insider Selling: Cactus, Inc. (NYSE:WHD) CEO Sells $2,055,225.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at $2,230,501.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cactus Trading Up 11.5 %

NYSE:WHD opened at $69.33 on Thursday. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $69.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a fifty day moving average price of $60.00 and a two-hundred day moving average price of $56.18. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.92 and a beta of 1.95.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cactus, Inc. will post 3.05 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is currently 18.44%.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System increased its position in shares of Cactus by 1.3% in the third quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after buying an additional 200 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock worth $1,678,000 after acquiring an additional 202 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after purchasing an additional 307 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after purchasing an additional 340 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Cactus by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock worth $967,000 after purchasing an additional 585 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WHD shares. Citigroup lifted their price target on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a research report on Monday. Stifel Nicolaus cut their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Bank of America boosted their price objective on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus target price of $56.40.

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.