Cactus, Inc. (NYSE:WHD) Announces $0.13 Quarterly Dividend

Cactus, Inc. (NYSE:WHD) declared a quarterly dividend on Tuesday, January 21st,RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.13 per share on Thursday, March 20th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%.

Cactus has increased its dividend payment by an average of 9.6% annually over the last three years. Cactus has a dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cactus to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 16.1%.

Cactus Stock Up 0.3 %

NYSE:WHD traded up $0.18 during mid-day trading on Tuesday, hitting $63.81. 539,486 shares of the company’s stock traded hands, compared to its average volume of 483,174. Cactus has a twelve month low of $38.27 and a twelve month high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The company has a market capitalization of $5.08 billion, a P/E ratio of 22.63, a P/E/G ratio of 5.47 and a beta of 1.98. The company has a fifty day moving average of $62.81 and a 200 day moving average of $60.70.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Cactus will post 3.08 EPS for the current year.

Insider Transactions at Cactus

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, the director now owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the sale, the chief operating officer now owns 57,567 shares of the company’s stock, valued at $3,762,003.45. This represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock valued at $8,916,325 over the last 90 days. Corporate insiders own 16.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on WHD shares. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research report on Monday, November 4th. Stifel Nicolaus dropped their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.40.

About Cactus

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.