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

Cadre Holdings, Inc. (NYSE:CDRE) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. 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 changing hands.

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

Cadre Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Warren B. Kanders sold 25,000 shares of the company’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 directly owns 11,407,211 shares of the company’s stock, valued at $402,560,476.19. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.00% of the stock is owned by insiders.

Institutional Trading of Cadre

Several large investors have recently made changes to their positions in CDRE. Assetmark Inc. purchased a new stake in shares of Cadre in the 4th quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Cadre by 51.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,066 shares of the company’s stock valued at $99,000 after acquiring an additional 1,048 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Cadre in the 4th quarter valued at $100,000. US Bancorp DE lifted its stake in shares of Cadre by 10.6% in the 4th 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 period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cadre by 1,451.5% in the 4th 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 period. 43.95% of the stock is owned by hedge funds and other institutional investors.

Cadre Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.96 and a current ratio of 3.01. The firm’s 50 day moving average is $35.22 and its 200-day moving average is $35.46. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 1.58 and a beta of 1.30.

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.