Cadre (NYSE:CDRE) Sets New 12-Month Low After Analyst Downgrade

Cadre Holdings, Inc. (NYSE:CDRE – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $28.00 to $25.00. Stifel Nicolaus currently has a hold rating on the stock. Cadre traded as low as $16.58 and last traded at $16.84, with a volume of 14799 shares changing hands. The stock had previously closed at $19.68.

A number of other research firms have also issued reports on CDRE. Lake Street Capital reduced their price objective on Cadre from $30.00 to $28.00 in a research report on Thursday. Stephens boosted their price target on Cadre to $32.00 in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Insider Activity

In related news, CEO Warren B. Kanders sold 26,423 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $20.08, for a total transaction of $530,573.84. Following the completion of the sale, the chief executive officer now directly owns 15,761,655 shares in the company, valued at $316,494,032.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Cadre news, Director Nicolas Sokolow sold 5,000 shares of Cadre stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $20.29, for a total value of $101,450.00. Following the completion of the sale, the director now directly owns 120,179 shares in the company, valued at $2,438,431.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Warren B. Kanders sold 26,423 shares of Cadre stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $20.08, for a total transaction of $530,573.84. Following the completion of the sale, the chief executive officer now owns 15,761,655 shares of the company’s stock, valued at $316,494,032.40. The disclosure for this sale can be found here. Insiders have sold 31,739 shares of company stock worth $638,849 over the last 90 days. 52.93% of the stock is owned by company insiders.

Institutional Trading of Cadre

A number of institutional investors have recently added to or reduced their stakes in CDRE. Point72 Middle East FZE acquired a new stake in Cadre in the fourth quarter valued at approximately $37,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Cadre in the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC raised its position in shares of Cadre by 75.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,322 shares of the company’s stock valued at $56,000 after purchasing an additional 1,001 shares during the period. Federated Hermes Inc. bought a new position in shares of Cadre in the first quarter valued at approximately $60,000. Finally, Amalgamated Bank raised its position in shares of Cadre by 18.1% in the third quarter. Amalgamated Bank now owns 3,084 shares of the company’s stock valued at $74,000 after purchasing an additional 473 shares during the period. 34.09% of the stock is currently owned by institutional investors and hedge funds.

Cadre Stock Performance

The company has a market cap of $707.40 million, a P/E ratio of 236.90 and a beta of 1.66. The company has a quick ratio of 1.46, a current ratio of 2.53 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average price is $22.21 and its 200 day moving average price is $24.32.

Cadre Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, February 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, February 2nd. Cadre’s dividend payout ratio is 400.05%.

Cadre Company Profile

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Cadre Holdings, Inc manufactures and distributes safety and survivability equipment 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 primarily provides body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brands; 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 and law enforcement equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.