Cannon Financial Strategists Inc. Invests $261,000 in Superior Group of Companies, Inc. (NASDAQ:SGC)

Cannon Financial Strategists Inc. purchased a new position in Superior Group of Companies, Inc. (NASDAQ:SGC) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,806 shares of the textile maker’s stock, valued at approximately $261,000. Cannon Financial Strategists Inc. owned 0.08% of Superior Group of Companies at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SGC. EntryPoint Capital LLC acquired a new stake in Superior Group of Companies during the first quarter valued at approximately $28,000. Lazard Asset Management LLC lifted its stake in Superior Group of Companies by 10,390.3% during the first quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock valued at $124,000 after purchasing an additional 7,481 shares during the last quarter. Algert Global LLC acquired a new stake in Superior Group of Companies during the second quarter valued at approximately $192,000. Sei Investments Co. acquired a new stake in Superior Group of Companies during the second quarter valued at approximately $266,000. Finally, Rhumbline Advisers lifted its stake in Superior Group of Companies by 2,824.1% during the second quarter. Rhumbline Advisers now owns 17,252 shares of the textile maker’s stock valued at $326,000 after purchasing an additional 16,662 shares during the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Superior Group of Companies Stock Down 2.4 %

Superior Group of Companies stock opened at $15.12 on Wednesday. The firm has a market cap of $253.56 million, a PE ratio of 20.71, a P/E/G ratio of 2.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 2.82. The firm’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $17.31. Superior Group of Companies, Inc. has a twelve month low of $7.38 and a twelve month high of $21.80.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $131.74 million during the quarter, compared to analyst estimates of $136.60 million. Superior Group of Companies had a net margin of 2.02% and a return on equity of 5.63%. During the same quarter in the prior year, the company posted $0.08 EPS. On average, research analysts predict that Superior Group of Companies, Inc. will post 0.74 EPS for the current fiscal year.

Superior Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Saturday, August 17th were paid a $0.14 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a yield of 3.70%. Superior Group of Companies’s dividend payout ratio is presently 76.71%.

Analysts Set New Price Targets

Several analysts recently commented on SGC shares. StockNews.com lowered shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Barrington Research reduced their price target 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. Finally, DA Davidson restated a “buy” rating and issued a $24.00 price target on shares of Superior Group of Companies in a research report on Monday, June 24th.

Insider Buying and Selling at Superior Group of Companies

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

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.