Oppenheimer Asset Management Inc. Grows Holdings in Cadre Holdings, Inc. (NYSE:CDRE)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 66.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,732 shares of the company’s stock after acquiring an additional 4,289 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cadre were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CDRE. Principal Financial Group Inc. boosted its holdings in Cadre by 18.4% in the third quarter. Principal Financial Group Inc. now owns 18,390 shares of the company’s stock worth $698,000 after acquiring an additional 2,856 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Cadre by 9.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,364 shares of the company’s stock worth $735,000 after purchasing an additional 1,721 shares in the last quarter. Truist Financial Corp bought a new position in Cadre in the 2nd quarter worth about $209,000. Mackenzie Financial Corp purchased a new stake in Cadre during the 2nd quarter valued at about $768,000. Finally, The Manufacturers Life Insurance Company increased its stake in Cadre by 29.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,706 shares of the company’s stock valued at $460,000 after purchasing an additional 3,141 shares in the last quarter. Institutional investors own 43.95% of the company’s stock.

Insider Buying and Selling

In other Cadre news, CEO Warren B. Kanders sold 7,964 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $32.09, for a total value of $255,564.76. Following the transaction, the chief executive officer now directly owns 11,899,247 shares of the company’s stock, valued at approximately $381,846,836.23. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.00% of the stock is currently owned by corporate insiders.

Cadre Price Performance

CDRE opened at $31.95 on Wednesday. The company’s 50-day simple moving average is $36.67 and its two-hundred day simple moving average is $34.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.96 and a current ratio of 3.01. The stock has a market capitalization of $1.30 billion, a P/E ratio of 38.49, a P/E/G ratio of 1.92 and a beta of 1.30. Cadre Holdings, Inc. has a 52-week low of $29.18 and a 52-week high of $40.28.

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

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.0875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.10%. Cadre’s dividend payout ratio (DPR) is currently 42.17%.

Analysts Set New Price Targets

Separately, Roth Mkm cut their price target on shares of Cadre from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.75.

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.