Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Wednesday, November 3rd, Zacks reports. Shareholders of record on Monday, November 29th will be given 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 dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
WHD opened at $38.51 on Thursday. The business’s 50-day moving average price is $40.49 and its two-hundred day moving average price is $38.07. Cactus has a 1 year low of $23.03 and a 1 year high of $46.94. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 59.25 and a beta of 2.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.59 and a quick ratio of 5.24.
A number of research firms have weighed in on WHD. Citigroup raised their price target on Cactus from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Barclays increased their price objective on Cactus from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, October 25th. 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, the stock has a consensus rating of “Buy” and an average target price of $38.67.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Cactus by 212.5% in the 2nd quarter. Morgan Stanley now owns 200,359 shares of the company’s stock valued at $7,358,000 after buying an additional 136,250 shares during the last quarter. Jane Street Group LLC lifted its holdings in Cactus by 182.3% during 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 last quarter. BNP Paribas Arbitrage SA lifted its holdings in Cactus by 345.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,920 shares of the company’s stock valued at $412,000 after purchasing an additional 8,471 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Cactus during the 3rd quarter valued at $202,000. 77.10% of the stock is owned by institutional investors.
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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