Cactus, Inc. (NYSE:WHD) Plans $0.11 Quarterly Dividend

Cactus, Inc. (NYSE:WHDGet Rating) announced a quarterly dividend on Tuesday, May 9th, Zacks reports. Shareholders of record on Tuesday, May 30th will be paid a dividend of 0.11 per share on Thursday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, May 26th.

Cactus has increased its dividend by an average of 69.7% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Cactus has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 15.5%.

Cactus Stock Down 0.8 %

Shares of Cactus stock opened at $35.46 on Thursday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 4.26 and a beta of 1.94. The stock’s 50-day moving average is $39.39 and its 200 day moving average is $47.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 1.58. Cactus has a one year low of $34.24 and a one year high of $58.30.

Cactus (NYSE:WHDGet Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Cactus had a net margin of 17.18% and a return on equity of 19.95%. The firm had revenue of $228.40 million during the quarter, compared to the consensus estimate of $217.45 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 56.5% compared to the same quarter last year. Equities research analysts anticipate that Cactus will post 2.31 EPS for the current year.

Insider Buying and Selling at Cactus

In other news, CAO Donna L. Anderson sold 2,985 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $47.83, for a total value of $142,772.55. Following the transaction, the chief accounting officer now owns 3,262 shares in the company, valued at approximately $156,021.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.72% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in WHD. Public Employees Retirement System of Ohio increased its holdings in Cactus by 59.9% during the third quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock worth $26,000 after buying an additional 254 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Cactus in the 1st quarter worth approximately $27,000. State of Wyoming purchased a new position in Cactus in the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC increased its position in Cactus by 886.7% in the first quarter. NewEdge Advisors LLC now owns 740 shares of the company’s stock worth $31,000 after buying an additional 665 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Cactus in the second quarter worth $39,000. 83.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Cactus from $64.00 to $61.00 in a research report on Friday, May 19th. Barclays dropped their price target on shares of Cactus from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 28th. Finally, Citigroup lowered their price objective on Cactus from $48.00 to $40.00 in a research note on Thursday, May 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.17.

About Cactus

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Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.

Further Reading

Dividend History for Cactus (NYSE:WHD)

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