Cactus, Inc. (WHD, Financial) (WHD - $40.27— NYSE) is the leading manufacturer of wellheads for land-based oil & gas wells anda provider of rental tools to oil & gas customers. The company reported better than expected first quarter earnings but saw some insider selling by members of the executive team in mid-June which put pressure on the stock. The Bender family, which founded and operates the company, still retains a significant stake in the company. Elevated commodity prices are already translating to more completion activity by privately owned exploration & production customers of Cactus which should yield improving sales and earnings heading into 2023.
From the Keeley Small Cap Dividend Value Fund second-quarter 2022 commentary.
