Cactus, Inc. COO Sells $6.5 Million in Stock

Cactus, Inc. (NYSE:WHD) recently made headlines as its Chief Operating Officer, Steven Bender, sold 100,000 shares of the company in a transaction that took place on Wednesday, November 6th. The shares were sold at an average price of $65.35 each, amounting to a total value of $6,535,000. Following this transaction, Bender retained ownership of 57,567 shares in Cactus, which are valued at approximately $3,762,003.45. This sale represents a 0.00% decrease in his stock position. Details of the transaction are available in a legal filing with the Securities and Exchange Commission (SEC).

Cactus Stock Performance

On the trading day following the sale, Cactus stock saw a slight increase, rising by 1.6% to reach $67.22 per share. A total of 763,298 shares changed hands during the trading session, outpacing the average volume of 739,930 shares. Cactus has a market capitalization of approximately $5.35 billion. The company boasts a price-to-earnings ratio of 23.46, with a PEG ratio of 3.29. Over the past year, the stock has ranged between a low of $37.58 and a high of $69.77. Other financial metrics include a current ratio of 3.82 and a quick ratio of 2.67, along with a very low debt-to-equity ratio of 0.01.

Earnings Report Overview

Cactus, Inc. released its recent earnings report on Wednesday, October 30th. The company reported earnings of $0.79 per share, surpassing the analysts' average estimate of $0.75 by $0.04. For the quarter, Cactus generated revenues of $293.18 million, which also exceeded the expected figure of $287.47 million. The company's return on equity stood at 20.24%, with a net margin of 16.57%. This revenue figure reflects a 1.8% increase from the same quarter a year earlier. Analysts forecast Cactus, Inc. will achieve earnings of $3.07 per share for the current fiscal year.

Dividend Announcement

The company also recently announced a quarterly dividend, which is scheduled to be paid on Thursday, December 19th. It will grant a $0.13 dividend to shareholders who are recorded as of Monday, December 2nd. The ex-dividend date is the same, meaning that shareholders must own the stock prior to this date to qualify for the dividend. This dividend payment translates to an annualized dividend of $0.52, representing a yield of 0.77%. The payout ratio for Cactus is currently at 18.44%.

Institutional Investors and Hedge Fund Activity

In recent months, various institutional investors and hedge funds have bought and sold shares of Cactus. Notable movements include SG Americas Securities LLC acquiring a new position in Cactus valued at approximately $115,000. Susquehanna Fundamental Investments LLC purchased a new stake worth about $1,423,000. Sei Investments Co. boosted its holdings by 13.2%, now owning 345,228 shares valued at around $17.3 million, after acquiring an additional 40,228 shares in the last quarter. Russell Investments Group Ltd. increased its position by a staggering 330.4%, acquiring an additional 33,214 shares to reach a total of 43,266 shares valued at approximately $2.17 million. Overall, hedge funds and institutional investors currently control about 85.11% of Cactus's stock.

Analyst Ratings and Forecasts

Wall Street analysts have been actively commenting on Cactus's performance and future prospects. Recently, Stifel Nicolaus decreased its price target for the stock from $69.00 to $67.00 and reaffirmed a “buy” rating. Bank of America also increased its target from $44.00 to $48.00 but assigned an “underperform” rating. Conversely, Barclays downgraded its rating from “overweight” to “equal weight” with a target price of $61.00. Another firm, Piper Sandler, cut its target from $55.00 to $54.00 while maintaining a “neutral” stance. As it currently stands, one analyst provides a sell rating, while four maintain hold ratings, and two analysts favor a buy recommendation, resulting in an overall average rating of “Hold” with a price target consensus of $56.40.

About Cactus, Inc.

Cactus, Inc., along with its subsidiaries, operates in the design, manufacture, sale, and leasing of pressure control and spoolable pipes across the U.S., Canada, Australia, the Middle East, and internationally. The company has two primary segments: Pressure Control, which provides rental and sale of wellhead and pressure control equipment, and Spoolable Technologies, focusing on other related products.

Cactus, Stock, Sale