Cannon Financial Strategists Inc. Purchases Shares of 13,806 Superior Group of Companies, Inc. (NASDAQ:SGC)

Cannon Financial Strategists Inc. purchased a new stake in Superior Group of Companies, Inc. (NASDAQ:SGC) in the second quarter, HoldingsChannel reports. The fund purchased 13,806 shares of the textile maker’s stock, valued at approximately $261,000.

A number of other hedge funds have also recently bought and sold shares of SGC. EntryPoint Capital LLC bought a new position in shares of Superior Group of Companies during the 1st quarter worth about $28,000. Lazard Asset Management LLC increased its position in shares of 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 worth $124,000 after purchasing an additional 7,481 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Superior Group of Companies during the 2nd quarter worth about $192,000. Sei Investments Co. acquired a new stake in shares of Superior Group of Companies during the 2nd quarter worth about $266,000. Finally, Acadian Asset Management LLC increased its position in shares of Superior Group of Companies by 68.5% during the 1st quarter. Acadian Asset Management LLC now owns 19,557 shares of the textile maker’s stock worth $321,000 after purchasing an additional 7,953 shares in the last quarter. 33.75% of the stock is owned by institutional investors.

Superior Group of Companies Stock Down 2.4 %

Shares of NASDAQ:SGC opened at $15.12 on Wednesday. Superior Group of Companies, Inc. has a one year low of $7.38 and a one year high of $21.80. The company has a 50 day moving average of $15.31 and a 200-day moving average of $17.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 1.82. The stock has a market cap of $253.56 million, a price-to-earnings ratio of 20.71, a P/E/G ratio of 2.11 and a beta of 1.42.

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

Superior Group of Companies Dividend Announcement

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

Insider Buying and Selling

In other news, insider Jake Himelstein acquired 2,000 shares of Superior Group of Companies stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $13.00 per share, with a total value of $26,000.00. Following the purchase, the insider now directly owns 40,825 shares of the company’s stock, valued at $530,725. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Benstock acquired 10,000 shares of Superior Group of Companies stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $13.45 per share, with a total value of $134,500.00. Following the purchase, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at $7,852,755.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jake Himelstein acquired 2,000 shares of Superior Group of Companies stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost 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 $530,725. The disclosure for this purchase can be found here. Insiders have bought 15,500 shares of company stock valued at $206,700 in the last 90 days. 27.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SGC has been the subject of a number of recent analyst reports. Barrington Research dropped their target price 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. DA Davidson restated a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a research report on Monday, June 24th. Finally, StockNews.com cut shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th.

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.