Select Equity Group L.P. Increases Stock Holdings in Cadre Holdings, Inc. $CDRE

Key Points

• Select Equity Group L.P. significantly increased its stake in Cadre Holdings by 726.6% during the first quarter, owning 447,337 shares worth approximately $13.25 million.
• Cadre's quarterly earnings report showed $0.30 earnings per share, exceeding analyst estimates, and revealed a 9% year-over-year revenue growth to $157.11 million.
• Cadre recently declared a quarterly dividend of $0.095 per share, translating to an annualized yield of 1.2%, with a dividend payout ratio of 40.43%.

Select Equity Group L.P. raised its position in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 726.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 447,337 shares of the company's stock after purchasing an additional 393,218 shares during the period. Select Equity Group L.P. owned 1.10% of Cadre worth $13,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cadre by 3.0% in 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 in the last quarter. WCM Investment Management LLC raised its holdings in shares of Cadre by 38.6% in the 1st quarter. WCM Investment Management LLC now owns 536,843 shares of the company's stock valued at $15,611,000 after acquiring an additional 149,551 shares in the last quarter. Northern Trust Corp boosted its position in shares of Cadre by 14.9% during the 1st quarter. Northern Trust Corp now owns 344,693 shares of the company's stock valued at $10,206,000 after acquiring an additional 44,588 shares during the last quarter. Old West Investment Management LLC boosted its position in shares of Cadre by 1.3% during the 1st quarter. Old West Investment Management LLC now owns 215,636 shares of the company's stock valued at $6,385,000 after acquiring an additional 2,706 shares during the last quarter. Finally, Pembroke Management LTD purchased a new position in shares of Cadre during the first quarter worth about $5,039,000. Institutional investors own 43.95% of the company's stock.

Insider Buying and Selling

In related news, CEO Warren B. Kanders sold 25,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $32.78, for a total value of $819,500.00. Following the completion of the sale, the chief executive officer owned 10,216,192 shares of the company's stock, valued at $334,886,773.76. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 125,000 shares of company stock valued at $4,167,500 over the last ninety days. Company insiders own 31.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CDRE. Bank of America cut 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 research report on Wednesday, August 13th. Wall Street Zen cut Cadre from a "buy" rating to a "hold" rating in a research note 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $31.50.

Cadre Trading Down 0.9%

Shares of NYSE CDRE traded down $0.29 during mid-day trading on Friday, hitting $32.20. The stock had a trading volume of 27,300 shares, compared to its average volume of 286,563. 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 Holdings, Inc. has a 1 year low of $27.07 and a 1 year high of $40.28. The business has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $32.05. The firm has a market cap of $1.31 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

Cadre (NYSE:CDRE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $157.11 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.095 dividend. The ex-dividend date of this dividend 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 (DPR) 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.