First Trust Advisors LP Trims Stock Position in Superior Group of Companies, Inc. (NASDAQ:SGC)

First Trust Advisors LP trimmed its holdings in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,585 shares of the textile maker’s stock after selling 5,058 shares during the period. First Trust Advisors LP owned about 0.22% of Superior Group of Companies worth $588,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Superior Group of Companies by 45.9% during the fourth quarter. Bank of New York Mellon Corp now owns 178,526 shares of the textile maker’s stock worth $2,951,000 after acquiring an additional 56,199 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Superior Group of Companies by 51.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 158,000 shares of the textile maker’s stock worth $2,612,000 after purchasing an additional 53,492 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Superior Group of Companies by 36.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 182,888 shares of the textile maker’s stock valued at $3,023,000 after purchasing an additional 49,156 shares during the period. American Century Companies Inc. increased its stake in Superior Group of Companies by 11.7% in the fourth quarter. American Century Companies Inc. now owns 363,416 shares of the textile maker’s stock valued at $6,007,000 after purchasing an additional 38,207 shares during the last quarter. Finally, LPL Financial LLC purchased a new position in Superior Group of Companies during the fourth quarter worth about $331,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SGC shares. Barrington Research cut their price target on shares of Superior Group of Companies from $21.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. StockNews.com lowered shares of Superior Group of Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 19th. Finally, DA Davidson reduced their price target on shares of Superior Group of Companies from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th.

Superior Group of Companies Trading Down 1.0 %

NASDAQ:SGC opened at $10.37 on Friday. The business’s 50-day moving average is $10.84 and its two-hundred day moving average is $14.07. The firm has a market capitalization of $170.88 million, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. Superior Group of Companies, Inc. has a 12 month low of $9.11 and a 12 month high of $21.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.86 and a quick ratio of 1.87.

Superior Group of Companies (NASDAQ:SGC) last posted its earnings results on Thursday, May 8th. The textile maker reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). The company had revenue of $137.10 million during the quarter, compared to analyst estimates of $139.85 million. Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.75%. Research analysts predict that Superior Group of Companies, Inc. will post 0.77 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.40%. Superior Group of Companies’s payout ratio is currently 75.68%.

Superior Group of Companies Company 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.