Truist Financial Corp Sells 4,228 Shares of Cadre Holdings, Inc. $CDRE

Truist Financial Corp trimmed its holdings in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 39.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,609 shares of the company’s stock after selling 4,228 shares during the quarter. Truist Financial Corp’s holdings in Cadre were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 41,476 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Cadre by 20.9% in the 1st quarter. Fred Alger Management LLC now owns 826,528 shares of the company’s stock valued at $24,473,000 after purchasing an additional 143,119 shares during the last quarter. WCM Investment Management LLC boosted its stake 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 purchasing an additional 149,551 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of Cadre by 726.6% in the 1st quarter. Select Equity Group L.P. now owns 447,337 shares of the company’s stock valued at $13,246,000 after purchasing an additional 393,218 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Cadre by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 372,211 shares of the company’s stock valued at $11,021,000 after purchasing an additional 31,123 shares during the last quarter. 43.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Roth Capital reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cadre in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadre in a research note on Wednesday, October 8th. Lake Street Capital upped their price objective on shares of Cadre from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen lowered shares of Cadre from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Bank of America downgraded shares of Cadre from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $38.00 to $26.00 in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cadre has an average rating of “Hold” and a consensus price target of $37.50.

Cadre Stock Performance

CDRE opened at $40.72 on Friday. 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 company’s fifty day moving average price is $33.72 and its two-hundred day moving average price is $32.84. Cadre Holdings, Inc. has a 1-year low of $27.07 and a 1-year high of $42.06. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.47 and a beta of 1.34.

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

Cadre Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.095 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.38 annualized dividend and a dividend yield of 0.9%. Cadre’s dividend payout ratio is currently 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.