In a recent series of transactions, Scott Bender, Chairman and CEO of Cactus Inc . (NYSE:WHD), has traded a significant amount of company stock. According to the latest filings, Bender sold shares worth over $30 million, with prices ranging between $51.01 and $52.03.
The series of transactions involved the sale of 201,585 Class A Common Stock shares on May 7, at $52.03 per share, and continued with the sale of 39,957 shares at $51.01 on May 8, and 358,458 shares at $51.098 on May 9. The total value of the shares sold amounts to approximately $30,843,161.
These sales are part of a broader set of transactions that also included stock conversions and redemptions related to Bender's ownership interests in Cactus WH Enterprises, LLC. Specifically, Bender's controlled corporation, Bender Investment Company (BIC), redeemed a portion of its ownership interests in Cactus Enterprises, leading to a distribution of 600,000 Units and a corresponding number of shares of Class B Common Stock of Cactus Inc.
Following these transactions, Bender is deemed to beneficially own 11,781,444 shares of Class B Common Stock and the same number of Units owned by Cactus Enterprises. It should be noted that the securities reported are directly owned by Cactus Enterprises, and Bender may be deemed to have an indirect pecuniary interest in the securities held directly by Cactus Enterprises. He has, however, disclaimed beneficial ownership of any securities that he does not directly own, except to the extent of his indirect pecuniary interest therein.
Investors and market watchers often keep a close eye on insider transactions, such as those carried out by Bender, as they can provide insights into the executives' perspective on the company's current valuation and future prospects.
InvestingPro Insights
Amidst the recent insider transactions by Scott Bender, Chairman and CEO of Cactus Inc. (NYSE:WHD), investors may be looking for additional data to gauge the company's financial health and market position. According to InvestingPro, Cactus Inc. holds a market capitalization of $4.07 billion and has demonstrated robust revenue growth of 48.23% over the last twelve months as of Q1 2024. This significant increase in revenue may reflect positively on the company's expansion strategies and market demand for its products.
One of the InvestingPro Tips for Cactus Inc. is that the company has raised its dividend for five consecutive years, indicating a commitment to returning value to shareholders. This consistent dividend growth, with a recent increase of 9.09% as of Q1 2024, could be a compelling factor for income-focused investors. Another noteworthy tip is that the stock has experienced strong returns over the last three months, with a price total return of 18.79%, highlighting positive investor sentiment and potential momentum in the stock's performance.
Regarding valuation, Cactus Inc. is currently trading at a P/E ratio of 20.13, which is adjusted to 17.53 for the last twelve months as of Q1 2024. The PEG ratio, which measures the stock's price relative to its earnings growth rate, stands at 0.99, suggesting that the stock may be reasonably valued in relation to its near-term earnings growth potential.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available on InvestingPro's platform. With a total of 12 tips provided for Cactus Inc., investors can access a wealth of information to inform their investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an even greater value for those looking to deepen their market insights.
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