Eagle Asset Management Inc. Sells 56,577 Shares of Cadre Holdings, Inc. (NYSE:CDRE)

Eagle Asset Management Inc. decreased its stake in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 253,531 shares of the company’s stock after selling 56,577 shares during the quarter. Eagle Asset Management Inc.’s holdings in Cadre were worth $8,856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Cadre by 16.8% in the 2nd quarter. Arizona State Retirement System now owns 7,239 shares of the company’s stock worth $243,000 after purchasing an additional 1,041 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Cadre by 454.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock valued at $55,000 after buying an additional 1,331 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Cadre by 9.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 19,364 shares of the company’s stock valued at $735,000 after acquiring an additional 1,721 shares in the last quarter. Sei Investments Co. raised its holdings in Cadre by 20.2% in the 2nd quarter. Sei Investments Co. now owns 10,554 shares of the company’s stock worth $354,000 after acquiring an additional 1,777 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Cadre by 11.5% in the 1st quarter. California State Teachers Retirement System now owns 22,234 shares of the company’s stock valued at $805,000 after acquiring an additional 2,301 shares in the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cadre

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $32.68, for a total value of $1,634,000.00. Following the transaction, the chief executive officer now directly owns 11,907,211 shares in the company, valued at approximately $389,127,655.48. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their target price on Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Cadre Stock Up 2.1 %

CDRE opened at $33.48 on Friday. Cadre Holdings, Inc. has a twelve month low of $29.18 and a twelve month high of $40.28. The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average price of $36.54 and a 200-day moving average price of $34.89. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 1.94 and a beta of 1.30.

Cadre (NYSE:CDRE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Cadre had a return on equity of 12.88% and a net margin of 6.34%. The company had revenue of $109.41 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Cadre’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities research analysts forecast that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, November 1st. Cadre’s payout ratio is 42.17%.

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.