Shares of Cactus, Inc. (NYSE:WHD – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $63.56 and last traded at $63.51, with a volume of 28614 shares traded. The stock had previously closed at $62.26.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on WHD shares. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler raised their price objective on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Citigroup lifted their target price on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Finally, Stifel Nicolaus raised their price target on Cactus from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cactus currently has an average rating of “Moderate Buy” and an average target price of $62.60.
Check Out Our Latest Research Report on WHD
Cactus Trading Down 2.9%
Cactus (NYSE:WHD – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The business had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same period in the prior year, the company earned $0.73 earnings per share. The company’s revenue was up 38.5% on a year-over-year basis. As a group, equities research analysts expect that Cactus, Inc. will post 2.86 earnings per share for the current year.
Cactus Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is currently 52.83%.
Insider Buying and Selling at Cactus
In other news, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 222,206 shares of company stock worth $11,295,784. Company insiders own 12.91% of the company’s stock.
Institutional Trading of Cactus
A number of hedge funds have recently modified their holdings of WHD. EverSource Wealth Advisors LLC raised its position in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of Cactus by 73.4% during the 4th 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. purchased a new position in shares of Cactus during the 3rd quarter valued at approximately $33,000. Advisors Asset Management Inc. lifted its stake in shares of Cactus by 113.8% in the 1st 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 period. Finally, Huntington National Bank lifted its stake in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Cactus Company Profile
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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