Cactus, Inc. (WHD) to Issue Quarterly Dividend of $0.13 on March 20th

Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Tuesday, January 21st,RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.13 per share on Thursday, March 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Monday, March 3rd.

Cactus has raised its dividend payment by an average of 9.6% per year over the last three years. Cactus has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.4 %

Shares of Cactus stock opened at $62.88 on Thursday. The stock has a 50 day moving average of $62.67 and a 200 day moving average of $60.80. 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 firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 5.48 and a beta of 1.98. Cactus has a fifty-two week low of $38.79 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $287.47 million. During the same period in the prior year, the business posted $0.80 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Cactus will post 3.08 earnings per share for the current year.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of Cactus 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 completion of the sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. The trade was a 47.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares in the company, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,500 shares of company stock valued at $8,916,325. 17.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WHD. Bank of America boosted their target price on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Company Profile

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.