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

Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.13 per share on Thursday, December 19th. This represents a $0.52 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, December 2nd.

Cactus has increased its dividend payment by an average of 8.5% per year over the last three years. Cactus has a payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cactus to earn $3.25 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 16.0%.

Cactus Trading Up 1.4 %

Shares of NYSE WHD opened at $68.66 on Friday. The company has a market cap of $5.46 billion, a PE ratio of 24.35, a P/E/G ratio of 3.19 and a beta of 1.95. 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’s 50 day moving average price is $62.98 and its 200-day moving average price is $57.90. Cactus has a 52-week low of $37.58 and a 52-week high of $70.01.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, October 30th. The company reported $0.79 EPS 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 period last year, the business posted $0.80 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Cactus will post 3.08 EPS for the current fiscal year.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. This represents a 47.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was 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 approximately $794,183.94. This represents a 29.11 % 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 worth $8,916,325 in the last quarter. Company insiders own 17.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research report on Monday, November 4th. Stifel Nicolaus lowered their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Bank of America raised their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.