Cadre (NYSE:CDRE) Cut to "Neutral" at Bank of America

Bank of America cut shares of Cadre (NYSE:CDRE - Free Report) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports. The brokerage currently has $38.00 price target on the stock, down from their previous price target of $45.00.

Cadre Trading Up 0.3%

Cadre stock traded up $0.11 during trading on Friday, reaching $34.51. The company had a trading volume of 237,387 shares, compared to its average volume of 280,829. Cadre has a 12-month low of $27.07 and a 12-month 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. The stock's 50 day moving average price is $32.49 and its two-hundred day moving average price is $33.51. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 1.58 and a beta of 1.36.

Cadre (NYSE:CDRE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.10. Cadre had a net margin of 6.34% and a return on equity of 12.88%. The company had revenue of $130.11 million during the quarter, compared to analysts' expectations of $121.53 million. During the same period in the previous year, the company earned $0.18 EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts expect that Cadre will post 1.05 earnings per share for the current fiscal year.

Cadre Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 2nd. Cadre's dividend payout ratio (DPR) is presently 40.00%.

Insiders Place Their Bets

In related news, CEO Warren B. Kanders sold 100,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $34.86, for a total transaction of $3,486,000.00. Following the sale, the chief executive officer now directly owns 10,716,192 shares in the company, valued at approximately $373,566,453.12. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 200,000 shares of company stock worth $6,735,500 over the last ninety days. 37.00% of the stock is owned by company insiders.

Institutional Trading of Cadre

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its stake in shares of Cadre by 118.4% in the 4th quarter. Capital International Investors now owns 1,981,602 shares of the company's stock valued at $64,006,000 after purchasing an additional 1,074,471 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Cadre in the 4th quarter valued at approximately $14,937,000. Select Equity Group L.P. raised its position in shares of Cadre by 726.6% during the 1st quarter. Select Equity Group L.P. now owns 447,337 shares of the company's stock valued at $13,246,000 after acquiring an additional 393,218 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cadre during the 4th quarter valued at approximately $8,179,000. Finally, Pembroke Management LTD bought a new position in Cadre during the first quarter worth $5,039,000. Institutional investors own 43.95% of the company's stock.

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.