Cactus, Inc. (NYSE:WHD) to Issue Quarterly Dividend of $0.11

Cactus, Inc. (NYSE:WHDGet Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Monday, August 29th will be paid a dividend of 0.11 per share on Thursday, September 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, August 26th.

Cactus has a dividend payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $2.01 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 21.9%.

Cactus Price Performance

Shares of WHD opened at $39.52 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 0.66 and a beta of 1.98. The stock has a 50 day moving average of $42.11 and a 200-day moving average of $48.37. The company has a current ratio of 5.33, a quick ratio of 4.00 and a debt-to-equity ratio of 0.01. Cactus has a 52 week low of $31.65 and a 52 week high of $64.18.

Cactus (NYSE:WHDGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. The company had revenue of $170.20 million during the quarter, compared to analyst estimates of $161.11 million. Cactus had a return on equity of 12.28% and a net margin of 13.43%. The business’s revenue was up 56.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. As a group, analysts forecast that Cactus will post 1.56 EPS for the current year.

Insider Buying and Selling at Cactus

In other Cactus news, Director Alan Semple sold 20,000 shares of Cactus stock in a transaction on Monday, May 16th. The stock was sold at an average price of $48.84, for a total transaction of $976,800.00. Following the sale, the director now owns 30,035 shares of the company’s stock, valued at approximately $1,466,909.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Scott Bender sold 180,000 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $48.00, for a total value of $8,640,000.00. Following the sale, the chief executive officer now owns 637,480 shares of the company’s stock, valued at approximately $30,599,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Semple sold 20,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $48.84, for a total value of $976,800.00. Following the completion of the sale, the director now directly owns 30,035 shares in the company, valued at approximately $1,466,909.40. The disclosure for this sale can be found here. Insiders have sold 1,389,748 shares of company stock valued at $73,478,068 in the last quarter. Corporate insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Cactus

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Cactus by 510.9% during the first quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock valued at $49,075,000 after buying an additional 723,339 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Cactus by 53.5% during the first quarter. Wellington Management Group LLP now owns 1,352,737 shares of the company’s stock valued at $76,755,000 after buying an additional 471,418 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Cactus by 24.7% during the first quarter. Federated Hermes Inc. now owns 1,003,134 shares of the company’s stock valued at $56,918,000 after buying an additional 198,831 shares in the last quarter. State Street Corp grew its holdings in shares of Cactus by 15.6% during the first quarter. State Street Corp now owns 1,391,811 shares of the company’s stock valued at $78,971,000 after buying an additional 188,004 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Cactus by 2.4% in the first quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock valued at $226,236,000 after purchasing an additional 94,603 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on WHD. Morgan Stanley cut their price target on Cactus from $60.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Stifel Nicolaus raised their price target on Cactus from $55.00 to $62.00 in a report on Friday, April 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.60.

About Cactus

(Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

Featured Stories

Dividend History for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.