Mesirow Financial Investment Management Inc. Decreases Holdings in Cadre Holdings, Inc. (NYSE:CDRE)

Mesirow Financial Investment Management Inc. decreased its position in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,229 shares of the company’s stock after selling 2,387 shares during the period. Cadre accounts for 1.5% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 26th biggest position. Mesirow Financial Investment Management Inc.’s holdings in Cadre were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Psagot Value Holdings Ltd. Israel increased its stake in Cadre by 635.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 2,169 shares of the company’s stock valued at $72,000 after purchasing an additional 1,874 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Cadre by 992.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,283 shares of the company’s stock valued at $75,000 after buying an additional 2,074 shares during the period. SG Americas Securities LLC purchased a new position in Cadre during the fourth quarter valued at $229,000. Legato Capital Management LLC purchased a new position in Cadre during the fourth quarter valued at $245,000. Finally, Strs Ohio purchased a new position in Cadre during the fourth quarter valued at $371,000. Hedge funds and other institutional investors own 43.95% of the company’s stock.

Cadre Trading Up 0.6 %

CDRE stock traded up $0.20 during trading on Wednesday, reaching $34.04. 80,568 shares of the stock were exchanged, compared to its average volume of 258,352. The company has a current ratio of 2.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $32.46 and a 200-day moving average price of $33.76. Cadre Holdings, Inc. has a 1 year low of $21.42 and a 1 year high of $39.81. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 1.94 and a beta of 1.29.

Cadre (NYSE:CDRE) last issued its earnings results on Tuesday, May 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Cadre had a return on equity of 19.18% and a net margin of 7.58%. The firm had revenue of $137.86 million for the quarter, compared to analysts’ expectations of $127.99 million. During the same period last year, the firm earned $0.19 earnings per share. Cadre’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, research analysts predict that Cadre Holdings, Inc. will post 1.07 earnings per share for the current year.

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, May 2nd. Cadre’s dividend payout ratio (DPR) is presently 34.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and issued a $43.00 price target (up from $38.00) on shares of Cadre in a research note on Wednesday, March 6th. B. Riley reissued a “buy” rating and issued a $48.00 price target (up from $40.00) on shares of Cadre in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus raised their price target on shares of Cadre from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Insiders Place Their Bets

In other Cadre news, Director Nicolas Sokolow sold 8,596 shares of Cadre stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.08, for a total transaction of $275,759.68. Following the completion of the sale, the director now directly owns 547,620 shares in the company, valued at $17,567,649.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 49.20% of the stock is owned by insiders.

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.