Squarepoint Ops LLC Invests $782,000 in Cadre Holdings, Inc. $CDRE

Squarepoint Ops LLC bought a new position in shares of Cadre Holdings, Inc. (NYSE:CDRE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,423 shares of the company’s stock, valued at approximately $782,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baird Financial Group Inc. acquired a new position in Cadre during the second quarter valued at approximately $231,000. Arizona State Retirement System lifted its stake in shares of Cadre by 5.4% during the second quarter. Arizona State Retirement System now owns 8,842 shares of the company’s stock valued at $252,000 after acquiring an additional 452 shares during the period. Bank of America Corp DE bought a new stake in shares of Cadre in the 2nd quarter valued at about $18,984,000. Jupiter Topco LLC bought a new stake in shares of Cadre in the second quarter worth about $344,000. Finally, Legal & General Group Plc bought a new stake in Cadre in the 2nd quarter valued at $1,163,000. 43.95% of the stock is owned by hedge funds and other institutional investors.

Cadre Price Performance

Shares of CDRE stock opened at $26.31 on Friday. The business’s fifty day moving average is $30.72 and its 200 day moving average is $31.18. Cadre Holdings, Inc. has a twelve month low of $25.73 and a twelve month high of $48.76. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 0.88 and a beta of 1.31. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 1.02.

Cadre (NYSE:CDRE) last issued its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $207.13 million for the quarter, compared to analysts’ expectations of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. Research analysts expect that Cadre Holdings, Inc. will post 1.33 EPS for the current fiscal year.

Cadre Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.10 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.40 annualized dividend and a yield of 1.5%. Cadre’s dividend payout ratio (DPR) is currently 47.06%.

Insider Buying and Selling at Cadre

In other Cadre news, CEO Warren Kanders sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the completion of the transaction, the chief executive officer owned 9,517,039 shares in the company, valued at $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 30.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CDRE. Jefferies Financial Group reiterated a “buy” rating and issued a $43.00 target price on shares of Cadre in a research note on Sunday, August 9th. Wall Street Zen raised shares of Cadre from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. DA Davidson upped their price objective on shares of Cadre from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, UBS Group set a $43.00 price target on shares of Cadre in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

About Cadre

Cadre Holdings, Inc is a manufacturer of equipment designed to protect and support military personnel, law enforcement officers, first responders and other public-safety professionals. The company operates through a portfolio of specialized brands, including Safariland, and focuses on products used in high-risk and mission-critical environments.

Its products include body armor, tactical and duty equipment, holsters, protective apparel, forensic equipment, explosive ordnance disposal suits and related public-safety gear.