Teacher Retirement System of Texas Makes New $942,000 Investment in Cadre Holdings, Inc. (NYSE:CDRE)

Defense World · Feb 3, 2023 06:02

Teacher Retirement System of Texas bought a new position in Cadre Holdings, Inc. (NYSE:CDRE – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,162 shares of the company's stock, valued at approximately $942,000. Teacher Retirement System of Texas owned 0.10% of Cadre at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CDRE. Swiss National Bank bought a new position in shares of Cadre in the second quarter worth $559,000. Pentwater Capital Management LP bought a new position in shares of Cadre in the second quarter worth $984,000. Quantbot Technologies LP bought a new position in shares of Cadre in the second quarter worth $404,000. Cubist Systematic Strategies LLC bought a new position in shares of Cadre in the second quarter worth $116,000. Finally, UBS Group AG boosted its stake in Cadre by 180.8% during the second quarter. UBS Group AG now owns 5,827 shares of the company's stock valued at $115,000 after buying an additional 3,752 shares in the last quarter. 34.09% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Cadre

In related news, CEO Warren B. Kanders sold 26,423 shares of the stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $20.08, for a total value of $530,573.84. Following the completion of the sale, the chief executive officer now directly owns 15,761,655 shares of the company's stock, valued at approximately $316,494,032.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Warren B. Kanders sold 25,389 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $23.63, for a total value of $599,942.07. Following the completion of the sale, the chief executive officer now directly owns 15,807,337 shares of the company's stock, valued at approximately $373,527,373.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Warren B. Kanders sold 26,423 shares of the stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $20.08, for a total value of $530,573.84. Following the completion of the sale, the chief executive officer now directly 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 sold 67,630 shares of company stock worth $1,475,048 in the last quarter. 52.93% of the stock is owned by company insiders.

Cadre Trading Up 1.0 %

NYSE:CDRE opened at $23.17 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.53 and a debt-to-equity ratio of 0.89. Cadre Holdings, Inc. has a 1-year low of $17.74 and a 1-year high of $31.50. The firm has a market capitalization of $864.98 million, a price-to-earnings ratio of 289.63 and a beta of 1.64. The stock has a fifty day simple moving average of $22.22 and a 200 day simple moving average of $24.83.

Cadre (NYSE:CDRE – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.07). Cadre had a net margin of 0.80% and a return on equity of 3.86%. The company had revenue of $111.55 million during the quarter, compared to analyst estimates of $106.31 million. Sell-side analysts forecast that Cadre Holdings, Inc. will post 0.22 earnings per share for the current year.

Cadre Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, February 3rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. Cadre's dividend payout ratio (DPR) is 400.00%.

Analyst Upgrades and Downgrades

CDRE has been the subject of several research reports. Raymond James raised their target price on Cadre from $29.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, November 11th. Stephens raised their target price on Cadre to $32.00 in a research note on Wednesday, November 16th. Finally, B. Riley raised their target price on Cadre from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, November 11th.

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.