Invesco Ltd. Lowers Holdings in Cadre Holdings, Inc. $CDRE

Key Points

• Invesco Ltd. reduced its stake in Cadre Holdings, Inc. by 3.2%, selling 8,171 shares, and now owns 0.60% of the company valued at approximately $7.23 million.
• Recent analyst reports have downgraded Cadre, with Bank of America lowering its rating from "neutral" to "underperform" and cutting the target price from $38 to $26.
• Cadre Holdings reported a quarterly EPS of $0.30, beating expectations, with revenue increasing by 8.9% year-over-year to $157.11 million.

Invesco Ltd. decreased its holdings in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,161 shares of the company's stock after selling 8,171 shares during the period. Invesco Ltd. owned about 0.60% of Cadre worth $7,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CDRE. Envestnet Asset Management Inc. increased its holdings in shares of Cadre by 19.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 31,737 shares of the company's stock worth $1,025,000 after purchasing an additional 5,236 shares in the last quarter. Barclays PLC increased its holdings in shares of Cadre by 77.3% in the 4th quarter. Barclays PLC now owns 94,698 shares of the company's stock worth $3,059,000 after purchasing an additional 41,301 shares in the last quarter. Mariner LLC increased its holdings in shares of Cadre by 65.8% in the 4th quarter. Mariner LLC now owns 11,387 shares of the company's stock worth $368,000 after purchasing an additional 4,520 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cadre by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 505,711 shares of the company's stock worth $16,334,000 after purchasing an additional 44,785 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Cadre by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 16,152 shares of the company's stock worth $522,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 50,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $33.01, for a total value of $1,650,500.00. Following the transaction, the chief executive officer directly owned 10,241,192 shares in the company, valued at $338,061,747.92. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 125,000 shares of company stock valued at $4,167,500 in the last quarter. 31.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDRE. Bank of America lowered Cadre from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $38.00 to $26.00 in a report on Wednesday, August 13th. Wall Street Zen lowered Cadre from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Cadre currently has an average rating of "Hold" and an average target price of $31.50.

Cadre Stock Performance

NYSE CDRE traded down $0.04 on Friday, hitting $30.86. 202,242 shares of the company traded hands, compared to its average volume of 419,090. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 1.13 and a beta of 1.31. The company has a current ratio of 3.59, a quick ratio of 2.56 and a debt-to-equity ratio of 0.90. The business's 50 day moving average price is $31.71 and its 200-day moving average price is $32.27. Cadre Holdings, Inc. has a 52-week low of $27.07 and a 52-week high of $40.28.

Cadre (NYSE:CDRE - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $153.23 million. Cadre had a return on equity of 12.08% and a net margin of 6.65%.Cadre's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Cadre has set its FY 2025 guidance at EPS. Equities analysts expect that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Dividend Announcement

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

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.