178,259 Shares in Cadre Holdings, Inc. $CDRE Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 178,259 Cadre shares worth approximately $5.08 million, giving it a 0.42% stake. Institutional investors collectively own 43.95% of the company.
• Cadre reported quarterly EPS of $0.26, beating estimates of $0.22, while revenue reached $207.13 million versus the $178.29 million consensus estimate.
• Shares opened at $29.67, near the lower end of their 52-week range, while analysts maintain a “Moderate Buy” consensus with a $45 average price target. The company also pays a quarterly dividend of $0.10 per share.

Bank of New York Mellon Corp acquired a new stake in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 178,259 shares of the company's stock, valued at approximately $5,082,000. Bank of New York Mellon Corp owned about 0.42% of Cadre at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in Cadre during the 1st quarter worth about $41,000. Assetmark Inc. boosted its position in Cadre by 34.6% during the first quarter. Assetmark Inc. now owns 1,878 shares of the company's stock valued at $58,000 after acquiring an additional 483 shares during the last quarter. Danske Bank A S lifted its position in shares of Cadre by 400.0% during the 4th quarter. Danske Bank A S now owns 1,500 shares of the company's stock valued at $61,000 after acquiring an additional 1,200 shares during the period. State of Wyoming bought a new position in shares of Cadre in the 2nd quarter worth $61,000. Finally, Tower Research Capital LLC TRC increased its holdings in Cadre by 110.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock worth $136,000 after purchasing an additional 2,246 shares in the last quarter. Institutional investors and hedge funds own 43.95% of the company's stock.

Cadre Stock Down 0.7%

NYSE:CDRE opened at $29.67 on Friday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 2.14. The stock's fifty day moving average price is $30.92 and its two-hundred day moving average price is $32.23. Cadre Holdings, Inc. has a 52-week low of $25.73 and a 52-week high of $48.76.

Cadre (NYSE:CDRE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $207.13 million for the quarter, compared to the consensus estimate of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. On average, analysts anticipate that Cadre Holdings, Inc. will post 1.33 EPS for the current year.

Cadre Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, July 31st. Cadre's dividend payout ratio (DPR) is 47.06%.

Insider Buying and Selling at Cadre

In related news, CEO Warren Kanders sold 100,000 shares of Cadre stock in a transaction on Monday, August 24th. The shares were sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the completion of the transaction, the chief executive officer owned 9,517,039 shares of the company's stock, valued at $317,488,421.04. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 275,000 shares of company stock valued at $8,427,500 over the last quarter. Insiders own 30.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CDRE shares. Jefferies Financial Group reissued a "buy" rating and set a $43.00 target price on shares of Cadre in a report on Sunday, August 9th. UBS Group set a $43.00 price target on shares of Cadre in a research report on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cadre in a report on Monday, August 17th. JPMorgan Chase & Co. raised their target price on shares of Cadre from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, DA Davidson increased their target price on Cadre from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

About Cadre

Cadre NYSE: CDRE is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm's platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.

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