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

Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Tuesday, January 21st,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.81%.

Cactus has raised 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. 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 Price Performance

NYSE WHD opened at $63.81 on Wednesday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 5.47 and a beta of 1.98. Cactus has a 1-year low of $38.27 and a 1-year high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The business’s fifty day moving average price is $62.75 and its 200-day moving average price is $60.79.

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

Insider Transactions at Cactus

In other news, Director Bruce M. Rothstein sold 5,000 shares of the 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 completion of the sale, the director now owns 12,177 shares in the company, valued at approximately $794,183.94. This represents a 29.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 138,500 shares of company stock valued at $8,916,325. Corporate insiders own 16.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a report on Monday, November 4th. Stifel Nicolaus cut their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Bank of America upped their price objective on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cactus presently has a consensus rating of “Hold” and an average target price 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.