Cadre Holdings, Inc. (NYSE:CDRE) Short Interest Up 15.8% in June

Cadre Holdings, Inc. (NYSE:CDRE) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,320,000 shares, an increase of 15.8% from the May 31st total of 1,140,000 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily volume of 259,600 shares, the days-to-cover ratio is currently 5.1 days.

Cadre Stock Up 2.3 %

Shares of NYSE:CDRE opened at $33.82 on Wednesday. The company has a 50 day moving average price of $32.46 and a two-hundred day moving average price of $33.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.82 and a current ratio of 2.82. The company has a market capitalization of $1.37 billion, a PE ratio of 33.49, a PEG ratio of 1.94 and a beta of 1.29. Cadre has a 52 week low of $21.42 and a 52 week high of $39.81.

Cadre (NYSE:CDRE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Cadre had a net margin of 7.58% and a return on equity of 19.18%. The firm had revenue of $137.86 million during the quarter, compared to the consensus estimate of $127.99 million. During the same quarter in the prior year, the company earned $0.19 EPS. Cadre’s quarterly revenue was up 23.4% on a year-over-year basis. Analysts forecast that Cadre will post 1.07 earnings per share for the current year.

Cadre Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $0.0875 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.35 annualized dividend and a dividend yield of 1.03%. Cadre’s dividend payout ratio is presently 34.65%.

Insiders Place Their Bets

In other Cadre news, Director Nicolas Sokolow sold 8,596 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.08, for a total transaction of $275,759.68. Following the sale, the director now owns 547,620 shares of the company’s stock, valued at approximately $17,567,649.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 49.20% of the company’s stock.

Institutional Trading of Cadre

Large investors have recently bought and sold shares of the business. New York State Teachers Retirement System boosted its holdings 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 valued at $63,000 after buying an additional 1,640 shares during the period. Psagot Value Holdings Ltd. Israel boosted its stake in Cadre by 635.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 2,169 shares of the company’s stock worth $72,000 after purchasing an additional 1,874 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Cadre by 992.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,283 shares of the company’s stock worth $75,000 after purchasing an additional 2,074 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Cadre by 11.5% in the 1st quarter. California State Teachers Retirement System now owns 22,234 shares of the company’s stock valued at $805,000 after purchasing an additional 2,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cadre by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 144,674 shares of the company’s stock valued at $4,758,000 after purchasing an additional 3,237 shares in the last quarter. 43.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CDRE shares. Stifel Nicolaus increased their price objective on shares of Cadre from $33.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Roth Mkm reissued a “buy” rating and issued a $43.00 price target (up previously from $38.00) on shares of Cadre in a research note on Wednesday, March 6th. Finally, B. Riley reaffirmed a “buy” rating and set a $48.00 price objective (up from $40.00) on shares of Cadre in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadre has a consensus rating of “Moderate Buy” and an average target price of $41.25.

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.