Cadre Holdings, Inc. (NYSE:CDRE) Sees Large Decrease in Short Interest

Cadre Holdings, Inc. (NYSE:CDRE) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,520,000 shares, a decline of 6.2% from the August 31st total of 1,620,000 shares. Based on an average daily trading volume, of 223,900 shares, the days-to-cover ratio is presently 6.8 days. Currently, 5.8% of the company’s stock are short sold.

Cadre Trading Up 0.3 %

NYSE CDRE opened at $38.08 on Wednesday. Cadre has a 12 month low of $26.13 and a 12 month high of $39.81. The company has a current ratio of 3.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average price is $35.60 and its 200-day moving average price is $34.40. The stock has a market cap of $1.55 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.22 and a beta of 1.28.

Cadre (NYSE:CDRE) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $144.31 million for the quarter, compared to the consensus estimate of $142.06 million. Cadre had a net margin of 7.55% and a return on equity of 17.45%. Cadre’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. As a group, equities analysts forecast that Cadre will post 1.04 EPS for the current fiscal year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, August 2nd. Cadre’s dividend payout ratio (DPR) is currently 34.65%.

Hedge Funds Weigh In On Cadre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDRE. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Cadre by 454.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock worth $55,000 after purchasing an additional 1,331 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Cadre by 1,640.0% in the first quarter. New York State Teachers Retirement System now owns 1,740 shares of the company’s stock worth $63,000 after acquiring an additional 1,640 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Cadre during the second quarter valued at approximately $141,000. Truist Financial Corp bought a new position in Cadre during the second quarter valued at approximately $209,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Cadre in the second quarter worth approximately $216,000. 43.95% of the stock is owned by institutional investors.

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.