Cactus, Inc. to Issue Quarterly Dividend of $0.10 (NYSE:WHD)

Cactus, Inc. (NYSE:WHD) declared a quarterly dividend on Wednesday, November 3rd, Zacks reports. Stockholders of record on Monday, November 29th will be paid a dividend of 0.10 per share on Thursday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 26th.

Cactus has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 28.8%.

Shares of WHD opened at $38.51 on Thursday. The company’s fifty day moving average is $40.49 and its 200-day moving average is $38.07. Cactus has a 12 month low of $23.03 and a 12 month high of $46.94. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 59.25 and a beta of 2.32. The company has a quick ratio of 5.24, a current ratio of 5.59 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, November 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Cactus had a net margin of 10.02% and a return on equity of 5.33%. During the same period last year, the firm posted $0.13 EPS. As a group, research analysts predict that Cactus will post 0.67 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on WHD shares. Barclays raised their target price on shares of Cactus from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, October 25th. Citigroup raised their target price on shares of Cactus from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus presently has a consensus rating of “Buy” and a consensus price target of $38.67.

Several large investors have recently added to or reduced their stakes in WHD. Morgan Stanley increased its stake in Cactus by 212.5% in the second quarter. Morgan Stanley now owns 200,359 shares of the company’s stock valued at $7,358,000 after acquiring an additional 136,250 shares during the period. Jane Street Group LLC grew its stake in shares of Cactus by 182.3% in the 3rd quarter. Jane Street Group LLC now owns 20,443 shares of the company’s stock valued at $771,000 after purchasing an additional 13,201 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Cactus by 345.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,920 shares of the company’s stock worth $412,000 after buying an additional 8,471 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Cactus in the 3rd quarter worth approximately $202,000. 77.10% of the stock is owned by institutional investors.

Cactus Company Profile

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.

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Dividend History for Cactus (NYSE:WHD)

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