Geode Capital Management LLC Raises Holdings in Cadre Holdings, Inc. (NYSE:CDRE)

Geode Capital Management LLC lifted its holdings in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 15.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,678 shares of the company’s stock after purchasing an additional 76,750 shares during the period. Geode Capital Management LLC owned about 1.44% of Cadre worth $22,155,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in shares of Cadre during the 2nd quarter worth approximately $141,000. Truist Financial Corp purchased a new stake in Cadre in the 2nd quarter worth approximately $209,000. Oppenheimer Asset Management Inc. purchased a new stake in Cadre in the 2nd quarter worth approximately $216,000. Intech Investment Management LLC purchased a new stake in Cadre in the 3rd quarter worth approximately $220,000. Finally, Arizona State Retirement System grew its stake in Cadre by 16.8% in the 2nd quarter. Arizona State Retirement System now owns 7,239 shares of the company’s stock worth $243,000 after acquiring an additional 1,041 shares during the period. 43.95% of the stock is owned by hedge funds and other institutional investors.

Cadre Stock Up 1.4 %

CDRE stock opened at $32.05 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 38.61, a PEG ratio of 2.11 and a beta of 1.23. The company has a 50 day moving average price of $34.68 and a two-hundred day moving average price of $35.32. Cadre Holdings, Inc. has a one year low of $29.18 and a one year high of $40.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.96 and a current ratio of 3.01.

Cadre (NYSE:CDRE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $109.41 million for the quarter, compared to analyst estimates of $126.27 million. Cadre had a net margin of 6.34% and a return on equity of 12.88%. Cadre’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. As a group, sell-side analysts expect that Cadre Holdings, Inc. will post 1.05 EPS for the current year.

Cadre Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.0875 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.09%. Cadre’s dividend payout ratio (DPR) is presently 42.17%.

Analyst Ratings Changes

Separately, Roth Mkm lowered their target price on shares of Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Insider Buying and Selling at Cadre

In related news, CEO Warren B. Kanders sold 50,000 shares of Cadre stock in a transaction on Friday, November 15th. The shares were sold at an average price of $32.68, for a total transaction of $1,634,000.00. Following the transaction, the chief executive officer now owns 11,907,211 shares in the company, valued at approximately $389,127,655.48. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicolas Sokolow sold 10,000 shares of Cadre stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.78, for a total transaction of $337,800.00. Following the transaction, the director now owns 471,709 shares in the company, valued at $15,934,330.02. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,310 shares of company stock worth $7,704,941 in the last quarter. 37.00% of the stock is owned by insiders.

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.