Bank of New York Mellon Corp Buys 56,199 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Bank of New York Mellon Corp raised its stake in Superior Group of Companies, Inc. (NASDAQ:SGC) by 45.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,526 shares of the textile maker’s stock after acquiring an additional 56,199 shares during the period. Bank of New York Mellon Corp owned approximately 1.09% of Superior Group of Companies worth $2,951,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Superior Group of Companies by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 39,902 shares of the textile maker’s stock worth $618,000 after purchasing an additional 1,193 shares during the last quarter. Empowered Funds LLC increased its position in shares of Superior Group of Companies by 5.1% during the fourth quarter. Empowered Funds LLC now owns 85,765 shares of the textile maker’s stock valued at $1,418,000 after acquiring an additional 4,128 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Superior Group of Companies by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 7,637 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 4,303 shares during the period. EMC Capital Management raised its stake in Superior Group of Companies by 59.5% in the 4th quarter. EMC Capital Management now owns 11,803 shares of the textile maker’s stock valued at $195,000 after acquiring an additional 4,405 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Superior Group of Companies by 44.2% in the third quarter. Jane Street Group LLC now owns 15,971 shares of the textile maker’s stock valued at $247,000 after purchasing an additional 4,895 shares in the last quarter. 33.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SGC has been the topic of several research analyst reports. DA Davidson decreased their price objective 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. Barrington Research reduced their price target on 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. Finally, StockNews.com cut shares of Superior Group of Companies from a “buy” rating to a “hold” rating in a report on Thursday.

Superior Group of Companies Stock Down 1.5 %

NASDAQ SGC opened at $10.83 on Friday. The stock’s 50-day moving average price is $14.37 and its 200-day moving average price is $15.27. The company has a quick ratio of 1.87, a current ratio of 2.86 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $178.46 million, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. Superior Group of Companies, Inc. has a 52 week low of $10.74 and a 52 week high of $21.80.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings results on Tuesday, March 11th. The textile maker reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.75%. The firm had revenue of $145.41 million for the quarter, compared to analysts’ expectations of $146.54 million. On average, equities research analysts predict that Superior Group of Companies, Inc. will post 0.77 earnings per share for the current year.

Superior Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend was Tuesday, February 18th. Superior Group of Companies’s dividend payout ratio is currently 75.68%.

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.