Cadre (NYSE:CDRE) Hits New 12-Month High on Better-Than-Expected Earnings

Cadre Holdings, Inc. (NYSE:CDRE) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $30.36 and last traded at $29.76, with a volume of 19596 shares. The stock had previously closed at $28.42.

The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The business had revenue of $125.11 million during the quarter, compared to analyst estimates of $117.68 million. Cadre had a return on equity of 18.59% and a net margin of 6.31%. Cadre’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS.

Cadre Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, November 2nd. Cadre’s payout ratio is 41.03%.

Analysts Set New Price Targets

Several research analysts have recently commented on CDRE shares. TheStreet raised Cadre from a “c” rating to a “b-” rating in a research report on Friday, November 3rd. Stephens boosted their price target on Cadre from $29.00 to $31.00 in a research report on Thursday, August 10th. Finally, Roth Mkm boosted their target price on Cadre from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.43.

Insider Buying and Selling

In other Cadre news, Director Nicolas Sokolow sold 1,391 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $25.00, for a total transaction of $34,775.00. Following the sale, the director now owns 100,956 shares in the company, valued at approximately $2,523,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cadre news, President Brad Williams sold 6,976 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $25.07, for a total transaction of $174,888.32. Following the sale, the president now owns 118,724 shares in the company, valued at approximately $2,976,410.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nicolas Sokolow sold 1,391 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $25.00, for a total value of $34,775.00. Following the sale, the director now owns 100,956 shares in the company, valued at approximately $2,523,900. The disclosure for this sale can be found here. Insiders have sold a total of 37,611 shares of company stock worth $961,461 in the last ninety days. 49.20% of the stock is owned by insiders.

Institutional Trading of Cadre

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Cadre by 20.8% in the 1st quarter. FMR LLC now owns 3,494,464 shares of the company’s stock valued at $75,271,000 after buying an additional 600,878 shares during the period. Citadel Advisors LLC raised its holdings in Cadre by 4,106.9% in the 2nd quarter. Citadel Advisors LLC now owns 457,416 shares of the company’s stock worth $8,998,000 after purchasing an additional 446,543 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Cadre by 35.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,190,969 shares of the company’s stock worth $23,426,000 after purchasing an additional 311,790 shares during the period. Millennium Management LLC acquired a new position in Cadre in the 4th quarter worth about $5,611,000. Finally, BlackRock Inc. raised its holdings in Cadre by 23.0% in the 3rd quarter. BlackRock Inc. now owns 1,049,140 shares of the company’s stock worth $25,243,000 after purchasing an additional 195,919 shares during the period. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Stock Up 7.8 %

The company has a market cap of $1.15 billion, a price-to-earnings ratio of 39.30 and a beta of 1.40. The company has a current ratio of 2.71, a quick ratio of 1.65 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average of $27.08 and a two-hundred day moving average of $23.96.

Cadre Company Profile

Cadre Holdings, Inc manufactures and distributes safety and survivability equipment 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 and law enforcement equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.