Nuveen LLC Purchases New Shares in Cadre Holdings, Inc. $CDRE

Key Points

• Nuveen LLC has acquired 55,647 shares of Cadre Holdings, Inc., valued at approximately $1.65 million, increasing its total ownership to around 0.14% as reported in its latest SEC filing.
• Wall Street analysts have downgraded Cadre from a "buy" to a "hold" rating, with Bank of America further reducing the stock's price target from $38.00 to $26.00.
• Cadre Holdings recently announced a quarterly dividend of $0.095 per share, translating to an annualized dividend yield of 1.2% and a payout ratio of 40.43%.

Nuveen LLC purchased a new stake in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 55,647 shares of the company's stock, valued at approximately $1,648,000. Nuveen LLC owned 0.14% of Cadre as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cadre by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,823 shares of the company's stock valued at $479,000 after acquiring an additional 578 shares during the period. Millennium Management LLC grew its stake in shares of Cadre by 103.3% during the 4th quarter. Millennium Management LLC now owns 32,004 shares of the company's stock valued at $1,034,000 after acquiring an additional 16,261 shares during the period. GAMMA Investing LLC grew its stake in shares of Cadre by 3,402.4% during the 1st quarter. GAMMA Investing LLC now owns 18,773 shares of the company's stock valued at $556,000 after acquiring an additional 18,237 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Cadre during the 4th quarter valued at approximately $516,000. Finally, Two Sigma Investments LP bought a new position in shares of Cadre during the 4th quarter valued at approximately $610,000. 43.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Warren B. Kanders sold 25,000 shares of the stock in a transaction on Monday, June 23rd. The stock was 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 in the company, valued at approximately $334,886,773.76. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 125,000 shares of company stock worth $4,167,500. 31.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CDRE. Bank of America downgraded Cadre from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $38.00 to $26.00 in a research note on Wednesday, August 13th. Wall Street Zen downgraded Cadre from a "buy" rating to a "hold" rating in a research note 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, the company has a consensus rating of "Hold" and a consensus target price of $31.50.

Cadre Price Performance

Shares of CDRE traded up $1.50 during mid-day trading on Thursday, hitting $31.93. 397,065 shares of the stock were exchanged, compared to its average volume of 325,346. The company has a market cap of $1.30 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. Cadre Holdings, Inc. has a 52-week low of $27.07 and a 52-week high of $40.28. The firm has a 50-day moving average of $31.59 and a two-hundred day moving average of $32.15. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.56 and a current ratio of 3.59.

Cadre (NYSE:CDRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $157.11 million for the quarter, compared to analysts' expectations of $153.23 million. Cadre had a return on equity of 12.08% and a net margin of 6.65%.The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. On average, equities analysts predict that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Announces Dividend

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

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.