Fred Alger Management LLC Raises Stock Position in Cadre Holdings, Inc. $CDRE

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

A number of other institutional investors also recently bought and sold shares of CDRE. Northern Trust Corp raised its stake in Cadre by 38.8% in the fourth quarter. Northern Trust Corp now owns 300,105 shares of the company's stock worth $9,693,000 after buying an additional 83,903 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Cadre during the fourth quarter valued at approximately $516,000. Bank of America Corp DE increased its stake in shares of Cadre by 31.0% during the fourth quarter. Bank of America Corp DE now owns 156,911 shares of the company's stock valued at $5,068,000 after purchasing an additional 37,151 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Cadre by 7.8% during the fourth quarter. Deutsche Bank AG now owns 105,237 shares of the company's stock valued at $3,399,000 after purchasing an additional 7,619 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cadre by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,823 shares of the company's stock valued at $479,000 after purchasing an additional 578 shares in the last quarter. 43.95% of the stock is owned by institutional investors.

Insider Transactions at Cadre

In related news, CEO Warren B. Kanders sold 25,000 shares of the firm's 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 sale, the chief executive officer owned 10,216,192 shares in the company, valued at approximately $334,886,773.76. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 125,000 shares of company stock valued at $4,167,500 in the last 90 days. Company insiders own 31.50% of the company's stock.

Cadre Stock Down 0.2%

Shares of CDRE traded down $0.07 on Friday, hitting $32.42. 237,714 shares of the stock traded hands, compared to its average volume of 218,153. The company has a market capitalization of $1.32 billion, a PE ratio of 34.49, a P/E/G ratio of 1.19 and a beta of 1.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.56 and a current ratio of 3.59. The business has a 50 day simple moving average of $31.58 and a 200 day simple moving average of $32.04. Cadre Holdings, Inc. has a one year low of $27.07 and a one year high of $40.28.

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

Cadre Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on CDRE. Wall Street Zen raised shares of Cadre from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America downgraded shares of Cadre from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $38.00 to $26.00 in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Cadre has an average rating of "Hold" and a consensus price target of $31.50.

About Cadre

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.