Allspring Global Investments Holdings LLC Makes New Investment in Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC purchased a new position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 34,207 shares of the textile maker’s stock, valued at approximately $462,000. Allspring Global Investments Holdings LLC owned 0.21% of Superior Group of Companies at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SGC. Barclays PLC bought a new stake in shares of Superior Group of Companies during the 3rd quarter worth approximately $32,000. Acadian Asset Management LLC lifted its holdings in shares of Superior Group of Companies by 78.1% during the 3rd quarter. Acadian Asset Management LLC now owns 16,218 shares of the textile maker’s stock worth $125,000 after acquiring an additional 7,111 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Superior Group of Companies by 67.6% during the 3rd quarter. Quadrature Capital Ltd now owns 18,364 shares of the textile maker’s stock worth $141,000 after acquiring an additional 7,408 shares during the period. EMC Capital Management lifted its holdings in shares of Superior Group of Companies by 1,040.2% during the 3rd quarter. EMC Capital Management now owns 22,803 shares of the textile maker’s stock worth $177,000 after acquiring an additional 20,803 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Superior Group of Companies during the 3rd quarter worth approximately $518,000. Institutional investors own 33.75% of the company’s stock.

Insider Buying and Selling at Superior Group of Companies

In other Superior Group of Companies news, insider Philip Koosed sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $15.64, for a total value of $140,760.00. Following the completion of the transaction, the insider now directly owns 82,436 shares in the company, valued at approximately $1,289,299.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Paul V. Mellini sold 6,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $15.66, for a total transaction of $93,960.00. Following the completion of the sale, the director now directly owns 92,955 shares in the company, valued at $1,455,675.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Philip Koosed sold 9,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.64, for a total transaction of $140,760.00. Following the sale, the insider now owns 82,436 shares of the company’s stock, valued at $1,289,299.04. The disclosure for this sale can be found here. Corporate insiders own 27.10% of the company’s stock.

Superior Group of Companies Price Performance

Shares of NASDAQ:SGC opened at $16.73 on Friday. The company has a market cap of $279.56 million, a price-to-earnings ratio of 30.42, a PEG ratio of 2.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.80. The firm has a 50 day simple moving average of $15.62 and a 200 day simple moving average of $13.16. Superior Group of Companies, Inc. has a one year low of $7.23 and a one year high of $17.70.

Superior Group of Companies (NASDAQ:SGC) last issued its quarterly earnings data on Wednesday, March 13th. The textile maker reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. The business had revenue of $147.24 million during the quarter, compared to the consensus estimate of $142.59 million. Superior Group of Companies had a net margin of 1.61% and a return on equity of 4.51%. Research analysts predict that Superior Group of Companies, Inc. will post 0.64 earnings per share for the current fiscal year.

Superior Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, February 22nd. Superior Group of Companies’s dividend payout ratio (DPR) is currently 101.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SGC. StockNews.com raised shares of Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 20th. Barrington Research increased their price objective on shares of Superior Group of Companies from $13.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, Singular Research reissued a “buy” rating on shares of Superior Group of Companies in a research note on Tuesday, March 19th.

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.