Cadre (NYSE:CDRE) Shares Down 2.6% - Here's What Happened

Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) fell 2.6% during mid-day trading on Friday . The stock traded as low as $34.83 and last traded at $34.83. 204,381 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 237,795 shares. The stock had previously closed at $35.75.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price objective on Cadre from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.75.

Cadre Price Performance

The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $35.28 and a 200 day moving average of $35.33. The firm has a market cap of $1.38 billion, a P/E ratio of 40.90, a PEG ratio of 2.11 and a beta of 1.23.

Cadre (NYSE:CDRE - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. Cadre had a return on equity of 12.88% and a net margin of 6.34%. The business had revenue of $109.41 million for the quarter, compared to analyst estimates of $126.27 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm's revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, November 1st. Cadre's payout ratio is 42.17%.

Insider Buying and Selling at Cadre

In related news, Director Nicolas Sokolow sold 1,095 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $34.10, for a total value of $37,339.50. Following the completion of the sale, the director now directly owns 83,208 shares in the company, valued at approximately $2,837,392.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Warren B. Kanders sold 25,000 shares of the stock in a transaction on Friday, December 13th. The stock was 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 in the company, valued at approximately $402,560,476.19. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,310 shares of company stock valued at $7,704,941 in the last three months. 37.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cadre

Hedge funds and other institutional investors have recently modified their holdings of the business. Fred Alger Management LLC boosted its position in Cadre by 87.5% during the 3rd quarter. Fred Alger Management LLC now owns 738,121 shares of the company's stock worth $28,012,000 after buying an additional 344,483 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Cadre by 21.6% during the third quarter. Loomis Sayles & Co. L P now owns 940,731 shares of the company's stock worth $35,701,000 after purchasing an additional 167,214 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cadre by 30.2% in the second quarter. Dimensional Fund Advisors LP now owns 411,056 shares of the company's stock worth $13,794,000 after purchasing an additional 95,233 shares during the last quarter. Old West Investment Management LLC increased its holdings in Cadre by 59.9% in the second quarter. Old West Investment Management LLC now owns 220,211 shares of the company's stock valued at $7,390,000 after purchasing an additional 82,501 shares during the period. Finally, Geode Capital Management LLC raised its position in Cadre by 15.1% during the 3rd quarter. Geode Capital Management LLC now owns 583,678 shares of the company's stock worth $22,155,000 after purchasing an additional 76,750 shares during the last quarter. Institutional investors own 43.95% of the company's stock.

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.