Cadre Holdings, Inc. (NYSE:CDRE) Stock Holdings Increased by Corbyn Investment Management Inc. MD

Key Points

• Corbyn Investment Management Inc. MD increased its stake in Cadre Holdings, Inc. (NYSE:CDRE) by 31.4%, owning 41,539 shares valued at $1.23 million, following the purchase of 9,935 additional shares.
• Cadre recently announced a quarterly dividend of $0.095, translating to an annualized yield of 1.1% and a payout ratio of 40.00%.
• Cadre's stock opened at $34.74, with a market capitalization of $1.41 billion, and it exceeded analyst expectations by reporting earnings of $0.30 per share for the previous quarter.

Corbyn Investment Management Inc. MD boosted its position in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 31.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,539 shares of the company's stock after acquiring an additional 9,935 shares during the quarter. Corbyn Investment Management Inc. MD owned 0.10% of Cadre worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cadre by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company's stock valued at $42,415,000 after purchasing an additional 41,476 shares during the period. Natixis Advisors LLC raised its position in Cadre by 19.7% in the first quarter. Natixis Advisors LLC now owns 14,429 shares of the company's stock valued at $427,000 after purchasing an additional 2,371 shares during the period. XTX Topco Ltd purchased a new position in Cadre in the first quarter valued at about $209,000. Premier Fund Managers Ltd purchased a new position in Cadre in the first quarter valued at about $665,000. Finally, Navellier & Associates Inc. raised its position in Cadre by 7.8% in the first quarter. Navellier & Associates Inc. now owns 9,623 shares of the company's stock valued at $287,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 43.95% of the company's stock.

Cadre Stock Down 1.8%

Shares of NYSE CDRE traded down $0.56 during midday trading on Friday, reaching $30.52. 584,684 shares of the company's stock were exchanged, compared to its average volume of 324,722. Cadre Holdings, Inc. has a 52-week low of $27.07 and a 52-week high of $40.28. The stock has a market capitalization of $1.24 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.14 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.57 and a current ratio of 3.59. The business's fifty day moving average price is $33.03 and its two-hundred day moving average price is $33.09.

Cadre (NYSE:CDRE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. Cadre had a return on equity of 12.08% and a net margin of 6.65%. The business had revenue of $157.11 million for the quarter, compared to analyst estimates of $153.23 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts forecast that Cadre Holdings, Inc. will post 1.05 EPS for the current year.

Cadre Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 1st. Cadre's payout ratio is presently 40.43%.

Analysts Set New Price Targets

Several research firms have commented on CDRE. Wall Street Zen raised Cadre from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Bank of America lowered Cadre from a "buy" rating to a "neutral" rating and cut their price objective for the company from $45.00 to $38.00 in a research report on Friday, June 13th.

Insider Activity

In other news, CEO Warren B. Kanders sold 25,000 shares of Cadre stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $32.78, for a total transaction of $819,500.00. Following the sale, the chief executive officer directly owned 10,216,192 shares of the company's stock, valued at approximately $334,886,773.76. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 275,000 shares of company stock worth $9,309,000 over the last 90 days. 37.00% of the stock is currently owned by insiders.

Cadre 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.