Northern Trust Corp Acquires 44,588 Shares of Cadre Holdings, Inc. $CDRE

Key Points

• Northern Trust Corp has increased its holdings in Cadre Holdings, Inc. by 14.9%, acquiring an additional 44,588 shares to reach a total of 344,693 shares valued at approximately $10.2 million.
• Cadre reported earnings of $0.30 per share for the latest quarter, surpassing analysts' expectations of $0.25, along with revenues of $157.11 million, which represents an 8.9% year-over-year increase.
• The company has recently declared a quarterly dividend of $0.095 per share, translating to an annualized yield of 1.2% with a payout ratio of 40.43%.

Northern Trust Corp increased its holdings in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,693 shares of the company's stock after acquiring an additional 44,588 shares during the period. Northern Trust Corp owned approximately 0.85% of Cadre worth $10,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Cadre by 37.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,221 shares of the company's stock worth $125,000 after acquiring an additional 1,155 shares in the last quarter. XTX Topco Ltd bought a new stake in Cadre during the first quarter worth about $209,000. Rafferty Asset Management LLC boosted its stake in Cadre by 4.7% during the fourth quarter. Rafferty Asset Management LLC now owns 6,653 shares of the company's stock worth $215,000 after acquiring an additional 299 shares in the last quarter. ProShare Advisors LLC bought a new stake in Cadre during the fourth quarter worth about $237,000. Finally, Arizona State Retirement System boosted its stake in Cadre by 6.4% during the first quarter. Arizona State Retirement System now owns 8,153 shares of the company's stock worth $241,000 after acquiring an additional 492 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

Cadre Stock Up 0.2%

Shares of Cadre stock opened at $31.96 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. The company's 50 day moving average is $31.59 and its 200 day moving average is $32.13. Cadre Holdings, Inc. has a twelve month low of $27.07 and a twelve month high of $40.28. The company has a quick ratio of 2.56, a current ratio of 3.59 and a debt-to-equity ratio of 0.90.

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

Cadre Announces Dividend

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

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $33.01, for a total transaction of $1,650,500.00. Following the completion of the sale, the chief executive officer directly owned 10,241,192 shares of the company's stock, valued at approximately $338,061,747.92. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 125,000 shares of company stock worth $4,167,500 in the last 90 days. 31.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CDRE has been the topic of several research reports. Wall Street Zen lowered shares of Cadre from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America downgraded shares of Cadre from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $38.00 to $26.00 in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.50.

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.

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