JPMorgan Chase & Co. Acquires 4,080 Shares of Cadre Holdings, Inc. (NYSE:CDRE)

JPMorgan Chase & Co. raised its stake in shares of Cadre Holdings, Inc. (NYSE:CDRE) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,539 shares of the company’s stock after buying an additional 4,080 shares during the period. JPMorgan Chase & Co.’s holdings in Cadre were worth $6,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Cadre in the 2nd quarter valued at approximately $141,000. Franklin Resources Inc. acquired a new position in Cadre during the third quarter valued at approximately $208,000. Truist Financial Corp bought a new position in shares of Cadre in the second quarter valued at approximately $209,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cadre in the second quarter worth $216,000. Finally, Intech Investment Management LLC bought a new stake in shares of Cadre during the 3rd quarter worth $220,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Cadre Stock Up 4.6 %

CDRE opened at $34.59 on Thursday. The business has a 50 day moving average of $33.66 and a 200-day moving average of $35.33. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 41.67, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 3.01, a quick ratio of 1.96 and a debt-to-equity ratio of 0.65. Cadre Holdings, Inc. has a 1-year low of $29.18 and a 1-year high of $40.28.

Cadre (NYSE:CDRE) last issued its quarterly earnings results 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 firm had revenue of $109.41 million during the quarter, compared to the consensus estimate of $126.27 million. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue was down 12.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cadre Holdings, Inc. will post 1.05 earnings per share for the current year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.0875 per share. The ex-dividend date was Friday, November 1st. This represents a $0.35 annualized dividend and a yield of 1.01%. Cadre’s dividend payout ratio is 42.17%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their target price on shares of Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two equities 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Insider Activity at Cadre

In other news, Director Nicolas Sokolow sold 5,000 shares of Cadre stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the sale, the director now directly owns 482,620 shares in the company, valued at approximately $16,047,115. The trade was a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Warren B. Kanders sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $32.68, for a total transaction of $1,634,000.00. Following the completion of the sale, the chief executive officer now directly owns 11,907,211 shares in the company, valued at approximately $389,127,655.48. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,310 shares of company stock worth $7,704,941 over the last three months. Company insiders own 37.00% of the company’s stock.

Cadre Profile

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.