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Cadre Holdings, Inc. (NYSE:CDRE – Get Rating) shares dropped 6.1% on Monday following insider selling activity. The company traded as low as $21.77 and last traded at $21.84. Approximately 3,650 shares changed hands during trading, a decline of 98% from the average daily volume of 153,216 shares. The stock had previously closed at $23.27.Specifically, CEO Warren B. Kanders sold 25,389 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $23.63, for a total transaction of $599,942.07. Following the sale, the chief executive officer now directly owns 15,807,337 shares of the company’s stock, valued at $373,527,373.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Nicolas Sokolow sold 2,458 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $23.98, for a total transaction of $58,942.84. Following the completion of the transaction, the director now owns 134,889 shares in the company, valued at approximately $3,234,638.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Warren B. Kanders sold 25,389 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $23.63, for a total transaction of $599,942.07. Following 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 disclosure for this sale can be found here. Corporate insiders own 52.93% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Stephens upped their price objective on shares of Cadre to $32.00 in a report on Wednesday, November 16th. Bank of America started coverage on shares of Cadre in a research report on Tuesday, September 6th. They issued a “buy” rating and a $30.00 target price on the stock. Jefferies Financial Group started coverage on shares of Cadre in a research report on Wednesday, August 31st. They issued a “buy” rating and a $32.00 target price on the stock. Raymond James increased their target price on shares of Cadre from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. Finally, B. Riley raised their price objective on shares of Cadre from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, November 11th.
Cadre Trading Down 4.7 %
The business’s fifty day moving average is $27.14 and its 200-day moving average is $24.98. The stock has a market capitalization of $827.65 million and a PE ratio of 290.91. 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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, October 31st. This represents a $0.32 annualized dividend and a yield of 1.44%. Cadre’s dividend payout ratio is presently 400.05%.
Institutional Trading of Cadre
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in Cadre by 40.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 51,311 shares of the company’s stock valued at $1,235,000 after buying an additional 14,691 shares in the last quarter. California State Teachers Retirement System grew its position in Cadre by 6.5% in the 3rd quarter. California State Teachers Retirement System now owns 18,673 shares of the company’s stock valued at $449,000 after buying an additional 1,135 shares in the last quarter. BNP Paribas Arbitrage SNC bought a new position in Cadre in the 3rd quarter valued at about $106,000. State Street Corp grew its position in Cadre by 29.0% in the 3rd quarter. State Street Corp now owns 264,646 shares of the company’s stock valued at $6,367,000 after buying an additional 59,499 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Cadre by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 832,039 shares of the company’s stock valued at $20,020,000 after buying an additional 135,773 shares in the last quarter. 33.57% of the stock is owned by institutional investors and hedge funds.
About Cadre
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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.
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