Cadre (NYSE:CDRE) Shares Gap Up After Earnings Beat

Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $29.61, but opened at $32.54. Cadre shares last traded at $35.13, with a volume of 247,101 shares traded.

The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.10. Cadre had a return on equity of 12.88% and a net margin of 6.34%. The firm had revenue of $130.11 million for the quarter, compared to analyst estimates of $121.53 million. During the same quarter in the prior year, the company earned $0.18 EPS. Cadre's revenue was down 5.6% on a year-over-year basis.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, May 2nd. Cadre's dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $31.88, for a total transaction of $1,594,000.00. Following the transaction, the chief executive officer now owns 10,866,192 shares of the company's stock, valued at $346,414,200.96. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 37.00% of the company's stock.

Institutional Trading of Cadre

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Cadre by 6.8% during the 1st quarter. Swiss National Bank now owns 55,100 shares of the company's stock worth $1,632,000 after buying an additional 3,500 shares during the last quarter. Corbyn Investment Management Inc. MD increased its holdings in shares of Cadre by 31.4% during the 1st quarter. Corbyn Investment Management Inc. MD now owns 41,539 shares of the company's stock worth $1,230,000 after buying an additional 9,935 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cadre by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company's stock worth $42,415,000 after buying an additional 41,476 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Cadre by 19.7% during the 1st quarter. Natixis Advisors LLC now owns 14,429 shares of the company's stock worth $427,000 after buying an additional 2,371 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Cadre during the 1st quarter worth $209,000. 43.95% of the stock is currently owned by institutional investors and hedge funds.

Cadre Trading Up 1.0%

The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 43.07, a P/E/G ratio of 1.58 and a beta of 1.34. 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 business has a fifty day moving average price of $31.09 and a 200 day moving average price of $33.52.

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.