Allspring Global Investments Holdings LLC Sells 87,580 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC cut its holdings in Superior Group of Companies, Inc. (NASDAQ:SGC) by 45.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,508 shares of the textile maker’s stock after selling 87,580 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.62% of Superior Group of Companies worth $1,619,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SGC. EntryPoint Capital LLC purchased a new stake in shares of Superior Group of Companies during the first quarter valued at approximately $28,000. Lazard Asset Management LLC boosted its position in Superior Group of Companies by 10,390.3% during the 1st quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock valued at $124,000 after buying an additional 7,481 shares during the period. Algert Global LLC bought a new stake in Superior Group of Companies in the 2nd quarter worth $192,000. Cannon Financial Strategists Inc. purchased a new position in shares of Superior Group of Companies in the second quarter valued at about $261,000. Finally, Sei Investments Co. bought a new position in shares of Superior Group of Companies during the second quarter valued at about $266,000. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Superior Group of Companies Stock Up 1.1 %

SGC stock opened at $15.15 on Thursday. The business has a 50 day moving average of $14.81 and a 200 day moving average of $17.10. The firm has a market cap of $253.69 million, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. Superior Group of Companies, Inc. has a twelve month low of $7.78 and a twelve month high of $21.80. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.36.

Superior Group of Companies (NASDAQ:SGC) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.08 earnings per share. On average, research analysts forecast that Superior Group of Companies, Inc. will post 0.74 EPS for the current fiscal year.

Superior Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Saturday, August 17th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, August 16th. Superior Group of Companies’s dividend payout ratio (DPR) is currently 76.71%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com cut Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. DA Davidson reiterated a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a research report on Tuesday, October 8th. Finally, Barrington Research decreased their target price on Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, August 21st.

Insider Buying and Selling

In other Superior Group of Companies news, CEO Michael Benstock acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $13.45 per share, with a total value of $134,500.00. Following the completion of the transaction, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Benstock acquired 10,000 shares of the 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 transaction, the chief executive officer now directly owns 583,848 shares in the company, valued at approximately $7,852,755.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jake Himelstein bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now directly owns 40,825 shares of the company’s stock, valued at $530,725. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 15,500 shares of company stock worth $206,700 in the last three months. Insiders own 27.10% of the company’s stock.

About Superior Group of Companies

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.