Cadre Holdings, Inc. $CDRE Shares Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in Cadre Holdings, Inc. by 20.9% during the first quarter, owning 826,528 shares valued at approximately $24.47 million as of the last quarter.
• CEO Warren B. Kanders sold 25,000 shares of Cadre, valued at $819,500, leading to a slight decrease in his overall stake in the company.
• Cadre announced a quarterly dividend of $0.095, representing an annualized dividend yield of 1.2% and a payout ratio of 40.43%.

Fred Alger Management LLC raised its position in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,528 shares of the company's stock after purchasing an additional 143,119 shares during the period. Fred Alger Management LLC owned about 2.03% of Cadre worth $24,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Cadre in the 1st quarter valued at about $69,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Cadre by 37.7% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,221 shares of the company's stock valued at $125,000 after purchasing an additional 1,155 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Cadre by 24,275.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,875 shares of the company's stock valued at $144,000 after purchasing an additional 4,855 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Cadre by 4.7% in the 4th quarter. Rafferty Asset Management LLC now owns 6,653 shares of the company's stock valued at $215,000 after purchasing an additional 299 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Cadre in the 1st quarter valued at about $209,000. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

Cadre Trading Down 0.2%

NYSE CDRE traded down $0.07 during mid-day trading on Friday, hitting $32.42. The company's stock had a trading volume of 113,181 shares, compared to its average volume of 286,764. Cadre Holdings, Inc. has a 52-week low of $27.07 and a 52-week high of $40.28. The stock's fifty day simple moving average is $31.58 and its two-hundred day simple moving average is $32.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.59 and a quick ratio of 2.56. The firm has a market capitalization of $1.32 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

Cadre (NYSE:CDRE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Cadre had a net margin of 6.65% and a return on equity of 12.08%. The firm had revenue of $157.11 million for the quarter, compared to analyst estimates of $153.23 million. During the same quarter last year, the firm posted $0.31 earnings per share. Cadre's revenue for the quarter was up 8.9% compared to the same quarter last year. Cadre has set its FY 2025 guidance at EPS. Research analysts expect that Cadre Holdings, Inc. will post 1.05 EPS for the current year.

Cadre Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.38 annualized dividend and a yield of 1.2%. Cadre's dividend payout ratio (DPR) is 40.43%.

Insider Transactions at Cadre

In other Cadre news, CEO Warren B. Kanders sold 25,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $32.78, for a total value of $819,500.00. Following the completion of the sale, the chief executive officer owned 10,216,192 shares of the company's stock, valued at $334,886,773.76. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 125,000 shares of company stock valued at $4,167,500 over the last three months. 31.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CDRE. Wall Street Zen lowered shares of Cadre from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Bank of America lowered shares of Cadre from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $38.00 to $26.00 in a report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.50.

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.