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

Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Tuesday, January 21st,RTT News reports. Investors 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 of this dividend is Monday, March 3rd.

Cactus has raised its dividend 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 Trading Down 1.4 %

WHD opened at $62.88 on Thursday. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 5.48 and a beta of 1.98. Cactus has a 52 week low of $38.79 and a 52 week high of $70.01. The business’s 50 day moving average is $62.67 and its two-hundred day moving average is $60.80. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

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

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction on Monday, November 4th. The stock was 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 approximately $2,230,501.95. The trade was a 47.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at $3,762,003.45. This trade represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,500 shares of company stock worth $8,916,325. Company insiders own 17.72% of the company’s stock.

Analyst Ratings Changes

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