HOUSTON—Joel Bender, President of Cactus Inc . (NYSE:WHD), recently executed a significant stock sale, according to a recent SEC filing. On November 6, Bender sold 1,000,000 shares of Class A Common Stock at a price of $65.35 each, amassing a total value of approximately $65.35 million.
The filing also detailed other transactions involving Class B Common Stock and Units, although these were not associated with any monetary exchanges. Following these transactions, Bender's ownership in the company adjusted accordingly.
Cactus Inc., a Houston-based company specializing in oil and gas field machinery and equipment, continues to be a focal point for investors monitoring insider trading activities.
In other recent news, Cactus Inc. has reported a steady growth in its Q3 2024 results. The company's revenue increased slightly by 1%, reaching $293 million with an adjusted EBITDA of $100 million. However, the company anticipates a slight decline in revenue for the next quarter. Cactus Inc. is maintaining a strong cash balance, which has grown to $303 million, and is rewarding its shareholders with a quarterly dividend of $0.13 per share.
The company is placing a strategic focus on international expansion and new product development. For instance, a new wellhead system and a frac valve design are in the pipeline. The international revenue from spoolable technologies has doubled year-over-year and is projected to grow to 40% of the segment's revenue in the next few years.
These are among the recent developments for Cactus Inc., which continues to navigate the market dynamics with a focus on growth and innovation. The company's approach to potential industry challenges positions it well to potentially increase its market share and deliver value to its shareholders.
InvestingPro Insights
In light of Joel Bender's recent stock sale, it's worth examining some key financial metrics and insights for Cactus Inc. (NYSE:WHD). According to InvestingPro data, the company boasts a market capitalization of $5.35 billion, reflecting its significant presence in the oil and gas field machinery sector.
Cactus Inc. has demonstrated strong financial performance, with a revenue of $1.13 billion over the last twelve months as of Q3 2023, representing a growth of 12.15%. The company's profitability is also noteworthy, with an operating income margin of 28.96% during the same period.
InvestingPro Tips highlight that Cactus Inc. holds more cash than debt on its balance sheet, indicating a solid financial position. This financial strength is particularly relevant given the recent insider sale, as it suggests the company maintains a robust liquidity profile independent of executive transactions.
Another InvestingPro Tip reveals that Cactus Inc. has raised its dividend for 6 consecutive years, which may be appealing to income-focused investors. The current dividend yield stands at 0.79%, with a dividend growth rate of 8.33% over the last twelve months.
It's worth noting that Cactus Inc.'s stock has shown significant momentum, with a 55.59% total return over the past year and is currently trading near its 52-week high. This performance aligns with the timing of Bender's stock sale, potentially indicating a favorable market valuation from the insider's perspective.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights, with 13 more tips available for Cactus Inc. These could provide further context to the company's financial health and market position, especially in light of recent insider activities.
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