Cadre (NYSE:CDRE) Shares Gap Down Following Weak Earnings

Cadre Holdings, Inc. (NYSE:CDRE)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $33.52, but opened at $31.59. Cadre shares last traded at $34.52, with a volume of 42,599 shares trading hands.

The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.16). The firm had revenue of $175.98 million for the quarter, compared to analyst estimates of $170.95 million. Cadre had a net margin of 6.34% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS.

Cadre Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.38 dividend on an annualized basis and a yield of 1.08%. This is a positive change from Cadre’s previous quarterly dividend of $0.09. Cadre’s payout ratio is presently 45.78%.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 25,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.29, for a total value of $882,250.00. Following the sale, the chief executive officer now owns 11,407,211 shares of the company’s stock, valued at $402,560,476.19. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 37.00% of the company’s stock.

Hedge Funds Weigh In On Cadre

A number of institutional investors have recently added to or reduced their stakes in CDRE. Assetmark Inc. acquired a new position in Cadre during the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Cadre by 51.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,066 shares of the company’s stock valued at $99,000 after purchasing an additional 1,048 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Cadre in the fourth quarter valued at $100,000. US Bancorp DE increased its holdings in shares of Cadre by 10.6% in the fourth quarter. US Bancorp DE now owns 4,178 shares of the company’s stock valued at $135,000 after purchasing an additional 400 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cadre by 1,451.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,251 shares of the company’s stock valued at $137,000 after purchasing an additional 3,977 shares during the last quarter. 43.95% of the stock is currently owned by institutional investors and hedge funds.

Cadre Stock Performance

The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 41.83, a P/E/G ratio of 1.58 and a beta of 1.30. The company’s fifty day simple moving average is $35.16 and its 200 day simple moving average is $35.46. The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65.

About Cadre

Cadre Holdings, Inc manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.