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

Cadre Holdings, Inc. (NYSE:CDRE) shares gapped down before the market opened 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 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.16). Cadre had a net margin of 6.34% and a return on equity of 12.88%. The business had revenue of $175.98 million during the quarter, compared to analyst estimates of $170.95 million. During the same quarter last year, the company posted $0.25 earnings per share. The company’s revenue was up 41.3% on a year-over-year basis.

Cadre Increases Dividend

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

Insider Buying and Selling

In other news, CEO Warren B. Kanders sold 25,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.29, for a total value of $882,250.00. Following the completion of the transaction, the chief executive officer now owns 11,407,211 shares of the company’s stock, valued at approximately $402,560,476.19. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CDRE. Principal Financial Group Inc. lifted its holdings in shares of Cadre by 18.4% in the third quarter. Principal Financial Group Inc. now owns 18,390 shares of the company’s stock worth $698,000 after acquiring an additional 2,856 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cadre by 66.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 10,732 shares of the company’s stock worth $407,000 after acquiring an additional 4,289 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Cadre by 62.2% in the third quarter. Advisors Asset Management Inc. now owns 29,582 shares of the company’s stock worth $1,123,000 after acquiring an additional 11,342 shares during the last quarter. Intech Investment Management LLC bought a new position in Cadre in the 3rd quarter valued at approximately $220,000. Finally, Navellier & Associates Inc. bought a new position in Cadre in the 3rd quarter valued at approximately $378,000. Institutional investors own 43.95% of the company’s stock.

Cadre Trading Up 5.3 %

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

Cadre Company Profile

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.