State Street Corp Increases Stake in Superior Group of Companies, Inc. (NASDAQ:SGC)

State Street Corp raised its position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,655 shares of the textile maker’s stock after purchasing an additional 17,188 shares during the quarter. State Street Corp owned 1.13% of Superior Group of Companies worth $2,860,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SGC. US Bancorp DE boosted its position in shares of Superior Group of Companies by 148.4% during the third quarter. US Bancorp DE now owns 2,894 shares of the textile maker’s stock valued at $45,000 after buying an additional 1,729 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Superior Group of Companies by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 58,213 shares of the textile maker’s stock valued at $902,000 after acquiring an additional 1,900 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Superior Group of Companies by 5.4% in the third quarter. Empowered Funds LLC now owns 81,637 shares of the textile maker’s stock worth $1,265,000 after acquiring an additional 4,154 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Superior Group of Companies by 129.1% during the third quarter. MetLife Investment Management LLC now owns 7,637 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 4,303 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Superior Group of Companies by 44.2% during the third quarter. GSA Capital Partners LLP now owns 20,098 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 6,158 shares during the period. 33.75% of the stock is owned by hedge funds and other institutional investors.

Superior Group of Companies Stock Up 2.6 %

SGC opened at $16.53 on Wednesday. The firm’s 50 day simple moving average is $16.32 and its two-hundred day simple moving average is $16.38. The company has a market capitalization of $270.12 million, a PE ratio of 19.92, a PEG ratio of 2.15 and a beta of 1.46. Superior Group of Companies, Inc. has a 1-year low of $11.66 and a 1-year high of $21.80. The company has a current ratio of 2.86, a quick ratio of 1.87 and a debt-to-equity ratio of 0.39.

Superior Group of Companies (NASDAQ:SGC) last released its earnings results on Wednesday, November 6th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.13. The company had revenue of $149.69 million for the quarter, compared to the consensus estimate of $143.03 million. Superior Group of Companies had a return on equity of 6.75% and a net margin of 2.37%. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, equities analysts forecast that Superior Group of Companies, Inc. will post 0.77 EPS for the current year.

Superior Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.39%. Superior Group of Companies’s dividend payout ratio (DPR) is presently 67.47%.

Insider Buying and Selling

In other news, Director Andrew D. Demott, Jr. sold 12,500 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.32, for a total value of $204,000.00. Following the transaction, the director now directly owns 205,281 shares in the company, valued at $3,350,185.92. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com raised shares of Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 3rd. DA Davidson reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a report on Tuesday, October 8th. Finally, Barrington Research increased their target price on Superior Group of Companies from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

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.