Allspring Global Investments Holdings LLC Buys 87,481 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC increased its stake in Superior Group of Companies, Inc. (NASDAQ:SGC) by 83.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,088 shares of the textile maker’s stock after acquiring an additional 87,481 shares during the period. Allspring Global Investments Holdings LLC owned about 1.15% of Superior Group of Companies worth $3,632,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Superior Group of Companies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 603,651 shares of the textile maker’s stock worth $9,972,000 after acquiring an additional 2,799 shares during the last quarter. Aegis Financial Corp grew its stake in shares of Superior Group of Companies by 10.7% in the fourth quarter. Aegis Financial Corp now owns 421,036 shares of the textile maker’s stock worth $5,684,000 after purchasing an additional 40,749 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Superior Group of Companies by 1,312.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 117,944 shares of the textile maker’s stock valued at $1,948,000 after purchasing an additional 109,596 shares during the period. Bank of New York Mellon Corp raised its position in Superior Group of Companies by 47.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 112,478 shares of the textile maker’s stock valued at $2,127,000 after purchasing an additional 36,045 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in Superior Group of Companies by 220.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 74,034 shares of the textile maker’s stock valued at $1,223,000 after purchasing an additional 50,964 shares during the last quarter. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Superior Group of Companies Stock Up 0.3 %

Shares of Superior Group of Companies stock opened at $14.48 on Monday. Superior Group of Companies, Inc. has a 1 year low of $7.36 and a 1 year high of $21.80. The firm has a market cap of $242.83 million, a price-to-earnings ratio of 19.84, a PEG ratio of 1.97 and a beta of 1.46. The company has a 50-day moving average of $17.20 and a 200 day moving average of $17.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 1.82.

Superior Group of Companies (NASDAQ:SGC) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Superior Group of Companies had a net margin of 2.02% and a return on equity of 5.63%. The business had revenue of $131.74 million for the quarter, compared to the consensus estimate of $136.60 million. During the same period in the prior year, the business posted $0.08 EPS. As a group, sell-side analysts anticipate that Superior Group of Companies, Inc. will post 0.74 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Saturday, August 17th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, August 16th. Superior Group of Companies’s dividend payout ratio (DPR) is 76.71%.

Analyst Ratings Changes

SGC has been the topic of several research analyst reports. DA Davidson reissued a “buy” rating and set a $24.00 target price on shares of Superior Group of Companies in a research note on Monday, June 24th. StockNews.com downgraded shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Barrington Research dropped their target price on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, August 21st.

Insiders Place Their Bets

In related news, CEO Michael Benstock bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $13.45 per share, for a total transaction of $134,500.00. Following the completion of the acquisition, the chief executive officer now owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Benstock acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $13.45 per share, with a total value of $134,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jake Himelstein bought 2,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now owns 40,825 shares of the company’s stock, valued at approximately $530,725. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 15,500 shares of company stock valued at $206,700. 27.10% of the stock is currently owned by corporate insiders.

Superior Group of Companies Profile

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.