Cactus Inc . (NYSE:WHD) President Joel Bender has recently engaged in significant stock transactions, according to the latest SEC filings. Bender sold shares worth over $30 million, with prices ranging from $51.01 to $52.03 per share.
The transactions took place over three days, beginning on May 7, 2024. On the first day, Bender sold 201,585 shares of Class A Common Stock at $52.03 each. The following day, an additional 39,957 shares were sold at $51.01 per share. The series of sales concluded on May 9, with Bender disposing of 358,458 shares at a price of $51.098 each. The total value of the shares sold across these days amounted to $30,843,161.
In a related move, the SEC filing also revealed that Bender had indirect dealings with Class B Common Stock, linked to the redemption of ownership interests in a subsidiary. However, these transactions, described in the filing with transaction code "J," did not involve a direct exchange of funds and therefore were reported with a total value of $0.
While the filing provides detailed data on the transactions, including post-transaction ownership amounts, it does not offer commentary on the reasons behind Bender's decision to sell the shares. The president's remaining stake in Cactus Inc., following these transactions, includes both Class A and Class B Common Stock, as well as indirect ownership interests through Cactus Enterprises.
Investors often scrutinize the trading activities of company insiders for insights into the company's performance and potential future direction. The recent sales by Cactus Inc.'s president will likely be of interest to shareholders and market analysts.
InvestingPro Insights
As investors parse through the trading activities of Cactus Inc. (NYSE:WHD) President Joel Bender, recent data from InvestingPro provides a broader financial context for the company. Cactus Inc. is currently trading at a price close to its 52-week high, with a Price % of 52 Week High at 89.68%, reflecting a strong performance over the past year. The company's stock price has seen a significant return of 35.82% over the last year, indicating a robust upward trend.
From a valuation standpoint, Cactus Inc. holds a P/E Ratio of 20.13, which adjusts to 17.53 when considering the last twelve months as of Q1 2024. This suggests that the company is trading at a lower P/E ratio relative to near-term earnings growth, an InvestingPro Tip that could signal an attractive valuation for earnings-focused investors.
On the financial health front, Cactus Inc. has demonstrated a strong balance sheet, holding more cash than debt, which is a reassuring sign of financial stability. Additionally, the company has raised its dividend for 5 consecutive years, with a dividend growth of 9.09% in the last twelve months as of Q1 2024, underscoring its commitment to returning value to shareholders.
For those seeking more in-depth analysis, there are 11 additional InvestingPro Tips available for Cactus Inc., which can be accessed by visiting https://www.investing.com/pro/WHD. Moreover, users can take advantage of an exclusive offer to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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