Raymond James Financial Inc. Trims Holdings in Cadre Holdings, Inc. $CDRE

Raymond James Financial Inc. lowered its stake in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 6.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 237,244 shares of the company’s stock after selling 15,971 shares during the period. Raymond James Financial Inc. owned approximately 0.58% of Cadre worth $7,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted 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 purchasing an additional 299 shares in the last quarter. Arizona State Retirement System boosted its holdings in Cadre by 6.4% during the 1st quarter. Arizona State Retirement System now owns 8,153 shares of the company’s stock valued at $241,000 after acquiring an additional 492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cadre by 4.1% in 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 in the last quarter. Navellier & Associates Inc. increased its stake in Cadre by 7.8% during the first quarter. Navellier & Associates Inc. now owns 9,623 shares of the company’s stock worth $287,000 after purchasing an additional 695 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Cadre by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 16,152 shares of the company’s stock worth $522,000 after purchasing an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Warren B. Kanders sold 50,000 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $33.01, for a total transaction of $1,650,500.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 125,000 shares of company stock worth $4,167,500. Corporate insiders own 31.50% of the company’s stock.

Cadre Stock Up 0.2%

Shares of Cadre stock opened at $30.88 on Wednesday. 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 Holdings, Inc. has a 52-week low of $27.07 and a 52-week high of $40.28. The company has a market capitalization of $1.26 billion, a P/E ratio of 32.85, a P/E/G ratio of 1.13 and a beta of 1.30. The company has a 50 day moving average of $31.63 and a 200 day moving average of $32.18.

Cadre (NYSE:CDRE) last announced 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 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%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Cadre has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Cadre Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Cadre Announces Dividend

The firm also recently declared 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 yield of 1.2%. The ex-dividend date of this dividend was Friday, August 1st. Cadre’s 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.