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

Cactus, Inc. (NYSE:WHD) announced a dividend on Wednesday, July 31st, NASDAQ reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.13 per share on Thursday, September 12th. The ex-dividend date of this dividend is Monday, August 26th.

Cactus has increased its dividend payment by an average of 8.5% annually over the last three years. Cactus has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 14.2%.

Cactus Stock Performance

WHD stock traded down $1.13 during mid-day trading on Thursday, hitting $61.99. The company had a trading volume of 1,636,220 shares, compared to its average volume of 793,248. The firm has a market cap of $4.93 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.40 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The stock’s fifty day moving average price is $53.39 and its two-hundred day moving average price is $49.43.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.70 by $0.11. The business had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, analysts forecast that Cactus will post 2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the transaction, the executive vice president now owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Scott Bender sold 39,957 shares of Cactus stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total value of $2,038,206.57. Following the transaction, the chief executive officer now owns 400,234 shares in the company, valued at $20,415,936.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the sale, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 602,059 shares of company stock valued at $30,948,949. Corporate insiders own 17.72% of the company’s stock.

Wall Street Analysts Forecast Growth

WHD has been the topic of several research reports. Citigroup boosted their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Bank of America boosted their price target on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Barclays boosted their price objective on shares of Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Benchmark reaffirmed a “hold” rating on shares of Cactus in a research note on Monday, May 6th. Finally, Piper Sandler reduced their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cactus currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.