Cadre Holdings, Inc. $CDRE Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in Cadre Holdings, Inc. by 16.6%, bringing its holdings down to 60,871 shares worth approximately $1.8 million.
• Cadre's stock had recent mixed ratings from analysts, with Wall Street Zen upgrading it to a buy while Bank of America downgraded it to underperform with a lowered target price of $26.00.
• The company announced a quarterly dividend of $0.095 per share, resulting in an annualized dividend of $0.38 and a yield of 1.1%.

Voya Investment Management LLC trimmed its stake in Cadre Holdings, Inc. (NYSE:CDRE - Free Report) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,871 shares of the company's stock after selling 12,086 shares during the period. Voya Investment Management LLC owned approximately 0.15% of Cadre worth $1,802,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Cadre by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,432,441 shares of the company's stock valued at $42,415,000 after buying an additional 41,476 shares during the last quarter. Fred Alger Management LLC grew its holdings in Cadre by 20.9% during the 1st quarter. Fred Alger Management LLC now owns 826,528 shares of the company's stock valued at $24,473,000 after buying an additional 143,119 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Cadre by 38.6% in the first quarter. WCM Investment Management LLC now owns 536,843 shares of the company's stock valued at $15,611,000 after buying an additional 149,551 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Cadre by 726.6% in the first quarter. Select Equity Group L.P. now owns 447,337 shares of the company's stock valued at $13,246,000 after buying an additional 393,218 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Cadre by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 372,211 shares of the company's stock worth $11,021,000 after buying an additional 31,123 shares during the period. 43.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDRE has been the subject of several research reports. 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 research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Cadre from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cadre presently has a consensus rating of "Hold" and an average price target of $31.50.

Cadre Stock Up 2.1%

NYSE CDRE traded up $0.71 during trading hours on Monday, reaching $34.48. 211,172 shares of the company traded hands, compared to its average volume of 252,719. Cadre Holdings, Inc. has a 12 month low of $27.07 and a 12 month high of $40.28. 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 stock has a market capitalization of $1.40 billion, a PE ratio of 35.93, a PEG ratio of 1.24 and a beta of 1.31. The company has a 50 day moving average of $31.68 and a two-hundred day moving average of $32.05.

Cadre (NYSE:CDRE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The firm 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 was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 dividend yield of 1.1%. 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.