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

Cactus, Inc. (NYSE:WHD) declared 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 0.81%.

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. 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 Stock Performance

Shares of WHD stock traded up $0.18 during mid-day trading on Tuesday, hitting $63.81. 539,486 shares of the stock were exchanged, compared to its average volume of 483,174. The stock’s fifty day simple moving average is $62.81 and its two-hundred day simple moving average is $60.70. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 5.47 and a beta of 1.98. Cactus has a 12-month low of $38.27 and a 12-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.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter 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.

Analysts Set New Price Targets

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

Insider Transactions at Cactus

In related news, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, the chief operating officer now owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. The trade was a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 over the last three months. Company insiders own 16.84% of the company’s stock.

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.