Cadre Holdings, Inc. $CDRE Stock: Reinhart Partners LLC. Lowers Stake

Key Points

• Reinhart Partners cut its Cadre Holdings stake by 16.5% in the third quarter, selling 451,000 shares and retaining 2.29 million shares worth approximately $57.4 million. Institutional investors collectively own 43.95% of the company.
• Cadre reported quarterly revenue of $207.1 million and EPS of $0.26, exceeding analyst expectations of $178.3 million in revenue and $0.22 EPS. The company also pays a $0.10 quarterly dividend, yielding about 1.6% annually.
• CDRE opened at $24.76, near its 52-week low, while analysts maintain a “Moderate Buy” consensus with an average $45 price target; insider ownership stands at 30.10% after CEO Warren Kanders sold 100,000 shares.

Reinhart Partners LLC. reduced its stake in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,287,373 shares of the company's stock after selling 451,000 shares during the quarter. Reinhart Partners LLC. owned about 5.34% of Cadre worth $57,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Cadre by 21,764.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,717 shares of the company's stock worth $93,000 after purchasing an additional 3,700 shares during the period. Engineers Gate Manager LP bought a new position in Cadre during the second quarter worth $356,000. Squarepoint Ops LLC bought a new position in Cadre during the second quarter worth $782,000. Baird Financial Group Inc. acquired a new position in Cadre in the second quarter valued at $231,000. Finally, Arizona State Retirement System lifted its holdings in Cadre by 5.4% in the second quarter. Arizona State Retirement System now owns 8,842 shares of the company's stock valued at $252,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 43.95% of the company's stock.

Cadre Stock Down 0.3%

CDRE stock opened at $24.76 on Friday. The stock's 50 day simple moving average is $29.37 and its 200 day simple moving average is $29.89. The company has a market cap of $1.06 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 2.14. Cadre Holdings, Inc. has a fifty-two week low of $24.07 and a fifty-two week high of $48.76.

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

Cadre Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.10 per share. The ex-dividend date was Friday, July 31st. This represents a $0.40 annualized dividend and a yield of 1.6%. Cadre's dividend payout ratio is presently 47.06%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Warren Kanders sold 100,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 9,517,039 shares of the company's stock, valued at $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 30.10% of the stock is owned by corporate insiders.

Cadre Profile

Cadre Holdings, Inc is a Jacksonville, Florida-based manufacturer of products designed to protect and equip law enforcement, military, public-safety and commercial customers. The company develops and supplies safety and survivability equipment intended for use in demanding operational environments.

Its product portfolio includes body armor, protective equipment, duty gear, holsters, tactical equipment, less-lethal systems, bomb-disposal and explosive-ordnance-disposal products, and equipment for chemical, biological, radiological and nuclear response.

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