Cactus, Inc. (NYSE:WHD) to Issue Quarterly Dividend of $0.12

Cactus, Inc. (NYSE:WHD - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Tuesday, May 28th will be given a dividend of 0.12 per share on Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, May 24th.

Cactus has raised its dividend by an average of 8.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Cactus has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cactus to earn $3.44 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 14.0%.

Cactus Price Performance

WHD traded down $0.67 on Friday, hitting $50.63. 521,104 shares of the company's stock were exchanged, compared to its average volume of 603,592. The firm has a 50-day moving average price of $49.10 and a 200-day moving average price of $45.63. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 8.91 and a beta of 1.95. The company has a current ratio of 3.17, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. Cactus has a fifty-two week low of $31.36 and a fifty-two week high of $57.00.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. Cactus had a net margin of 14.46% and a return on equity of 22.97%. Cactus's quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. As a group, equities analysts anticipate that Cactus will post 2.87 earnings per share for the current year.

Insider Activity

In related news, CEO Scott Bender sold 78,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the sale, the chief executive officer now directly owns 20 shares of the company's stock, valued at approximately $915.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cactus news, CEO Scott Bender sold 78,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the sale, the chief executive officer now owns 20 shares of the company's stock, valued at $915.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now owns 3,911 shares in the company, valued at $180,688.20. The disclosure for this sale can be found here. Corporate insiders own 17.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WHD shares. Benchmark downgraded Cactus from a "buy" rating to a "hold" rating in a research report on Tuesday, January 16th. 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $55.29.

About Cactus

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.