Superior Group of Companies, Inc. (NASDAQ:SGC) Increases Dividend to $0.14 Per Share

Superior Group of Companies, Inc. (NASDAQ:SGCGet Rating) announced a quarterly dividend on Friday, May 13th, Fidelity reports. Investors of record on Tuesday, May 24th will be given a dividend of 0.14 per share by the textile maker on Tuesday, June 7th. This represents a $0.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, May 23rd. This is a positive change from Superior Group of Companies’s previous quarterly dividend of $0.12.

Superior Group of Companies has raised its dividend by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 2 years. Superior Group of Companies has a dividend payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Superior Group of Companies to earn $2.50 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 22.4%.

NASDAQ:SGC opened at $17.25 on Friday. The firm has a market cap of $278.93 million, a price-to-earnings ratio of 12.68 and a beta of 0.91. The company has a current ratio of 2.95, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $17.07 and its two-hundred day moving average is $20.05. Superior Group of Companies has a 12-month low of $14.57 and a 12-month high of $27.25.

Superior Group of Companies (NASDAQ:SGCGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The textile maker reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). Superior Group of Companies had a net margin of 4.07% and a return on equity of 13.01%. During the same quarter last year, the company posted $0.66 EPS. On average, equities research analysts forecast that Superior Group of Companies will post 1.71 earnings per share for the current fiscal year.

A number of research firms recently issued reports on SGC. Zacks Investment Research downgraded shares of Superior Group of Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 5th. Barrington Research dropped their target price on shares of Superior Group of Companies from $33.00 to $31.00 in a research report on Monday, May 9th. StockNews.com began coverage on shares of Superior Group of Companies in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet downgraded shares of Superior Group of Companies from a “b” rating to a “c+” rating in a research report on Thursday, March 10th.

In other news, CEO Michael Benstock acquired 2,146 shares of the stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $15.13 per share, with a total value of $32,468.98. Following the completion of the transaction, the chief executive officer now directly owns 695,771 shares of the company’s stock, valued at $10,527,015.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 11,004 shares of company stock valued at $169,341 in the last ninety days. 28.30% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SGC. Wellington Management Group LLP bought a new position in Superior Group of Companies during the first quarter worth $1,262,000. Renaissance Technologies LLC increased its holdings in shares of Superior Group of Companies by 53.0% during the first quarter. Renaissance Technologies LLC now owns 27,700 shares of the textile maker’s stock valued at $494,000 after purchasing an additional 9,600 shares during the period. Ancora Advisors LLC acquired a new position in shares of Superior Group of Companies during the first quarter valued at $596,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Superior Group of Companies by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,856 shares of the textile maker’s stock valued at $569,000 after purchasing an additional 1,477 shares during the period. Finally, High Net Worth Advisory Group LLC increased its holdings in shares of Superior Group of Companies by 322.2% during the first quarter. High Net Worth Advisory Group LLC now owns 1,900 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 1,450 shares during the period. Institutional investors own 40.78% of the company’s stock.

About Superior Group of Companies (Get Rating)

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Uniforms and Related Products, Remote Staffing Solutions, and Promotional Products. The Uniforms and Related Products segment manufactures and sells a range of uniforms, corporate identity apparel, career apparel, and accessories for personnel of hospitals and healthcare facilities; hotels; food and other restaurants; retail stores; special purpose industrial facilities; commercial markets; transportation; public and private safety and security organizations; and miscellaneous service uses.

See Also

Dividend History for Superior Group of Companies (NASDAQ:SGC)

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