Truist Financial Corp Raises Stock Position in Cadre Holdings, Inc. (NYSE:CDRE)

Truist Financial Corp raised its stake in Cadre Holdings, Inc. (NYSE:CDRE) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,277 shares of the company’s stock after buying an additional 616 shares during the period. Truist Financial Corp’s holdings in Cadre were worth $364,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. WCM Investment Management LLC acquired a new stake in shares of Cadre in the fourth quarter valued at approximately $12,420,000. Fred Alger Management LLC grew its position in shares of Cadre by 87.5% in the third quarter. Fred Alger Management LLC now owns 738,121 shares of the company’s stock valued at $28,012,000 after purchasing an additional 344,483 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Cadre by 21.6% in the third quarter. Loomis Sayles & Co. L P now owns 940,731 shares of the company’s stock valued at $35,701,000 after purchasing an additional 167,214 shares during the last quarter. Catawba River Capital grew its position in shares of Cadre by 51.5% in the fourth quarter. Catawba River Capital now owns 455,824 shares of the company’s stock valued at $14,723,000 after purchasing an additional 154,986 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Cadre by 15.1% in the third quarter. Geode Capital Management LLC now owns 583,678 shares of the company’s stock valued at $22,155,000 after purchasing an additional 76,750 shares during the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Warren B. Kanders sold 25,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.29, for a total value of $882,250.00. Following the transaction, the chief executive officer now owns 11,407,211 shares of the company’s stock, valued at approximately $402,560,476.19. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 75,000 shares of company stock valued at $2,665,250 over the last quarter. Company insiders own 37.00% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price target on shares of Cadre from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Cadre Stock Performance

NYSE:CDRE opened at $32.37 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 3.01 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.31 billion, a P/E ratio of 39.00, a P/E/G ratio of 1.58 and a beta of 1.27. Cadre Holdings, Inc. has a fifty-two week low of $29.19 and a fifty-two week high of $40.28. The firm’s 50 day moving average is $35.02 and its two-hundred day moving average is $35.53.

Cadre Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.38 dividend on an annualized basis and a yield of 1.17%. This is an increase from Cadre’s previous quarterly dividend of $0.09. Cadre’s dividend payout ratio (DPR) is currently 45.78%.

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.