Northern Trust Corp Grows Position in 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 lifted its position in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 14.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,693 shares of the company's stock after purchasing an additional 44,588 shares during the period. Northern Trust Corp owned 0.85% of Cadre worth $10,206,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. WCM Investment Management LLC increased its holdings in Cadre by 38.6% during the first quarter. WCM Investment Management LLC now owns 536,843 shares of the company's stock worth $15,611,000 after buying an additional 149,551 shares during the last quarter. Nuveen LLC purchased a new stake in Cadre during the first quarter worth about $1,648,000. Dimensional Fund Advisors LP increased its holdings in Cadre by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 505,711 shares of the company's stock worth $16,334,000 after buying an additional 44,785 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cadre by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company's stock worth $42,415,000 after buying an additional 41,476 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Cadre by 31.0% during the fourth quarter. Bank of America Corp DE now owns 156,911 shares of the company's stock worth $5,068,000 after buying an additional 37,151 shares during the last quarter. 43.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Warren B. Kanders sold 25,000 shares of the company'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 transaction of $819,500.00. Following the sale, the chief executive officer owned 10,216,192 shares of the company's stock, valued at approximately $334,886,773.76. This represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 125,000 shares of company stock worth $4,167,500. Corporate insiders own 31.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cadre Stock Performance

Shares of CDRE traded up $0.99 during trading hours on Thursday, hitting $32.49. The company's stock had a trading volume of 177,658 shares, compared to its average volume of 227,728. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.16 and a beta of 1.30. 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 business has a 50 day simple moving average of $31.58 and a two-hundred day simple moving average of $32.05. 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 posted its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $157.11 million for the quarter, compared to analyst estimates of $153.23 million. Cadre had a net margin of 6.65% and a return on equity of 12.08%. Cadre's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cadre Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Cadre Dividend Announcement

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