Rhumbline Advisers Increases Stock Position in Superior Group of Companies, Inc. (NASDAQ:SGC)

Rhumbline Advisers lifted its position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) by 2,824.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,252 shares of the textile maker’s stock after buying an additional 16,662 shares during the period. Rhumbline Advisers owned 0.10% of Superior Group of Companies worth $326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Superior Group of Companies by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 104,607 shares of the textile maker’s stock valued at $1,728,000 after purchasing an additional 70,400 shares during the last quarter. Prosperity Consulting Group LLC acquired a new position in shares of Superior Group of Companies in the first quarter worth about $597,000. Janney Montgomery Scott LLC acquired a new stake in shares of Superior Group of Companies during the first quarter worth approximately $901,000. Empowered Funds LLC grew its position in Superior Group of Companies by 369.4% in the first quarter. Empowered Funds LLC now owns 71,903 shares of the textile maker’s stock worth $1,188,000 after acquiring an additional 56,584 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Superior Group of Companies by 13.6% in the first quarter. Russell Investments Group Ltd. now owns 34,259 shares of the textile maker’s stock worth $566,000 after acquiring an additional 4,090 shares in the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Insiders Place Their Bets

In other Superior Group of Companies news, insider Jake Himelstein purchased 2,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $13.00 per share, with a total value of $26,000.00. Following the acquisition, the insider now directly owns 40,825 shares in the company, valued at approximately $530,725. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jake Himelstein purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Loreen M. Spencer purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $13.20 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the director now directly owns 7,266 shares in the company, valued at $95,911.20. The disclosure for this purchase can be found here. Insiders purchased a total of 15,500 shares of company stock worth $206,700 in the last quarter. 27.10% of the stock is owned by company insiders.

Superior Group of Companies Price Performance

Shares of NASDAQ:SGC opened at $15.51 on Friday. 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, Inc. has a twelve month low of $7.38 and a twelve month high of $21.80. The stock’s 50 day moving average is $15.40 and its 200-day moving average is $17.27. The firm has a market capitalization of $260.10 million, a price-to-earnings ratio of 21.25, a PEG ratio of 2.06 and a beta of 1.42.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $131.74 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.08 earnings per share. Sell-side analysts forecast 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 announced 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 3.61%. Superior Group of Companies’s dividend payout ratio is currently 76.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SGC. StockNews.com lowered shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Barrington Research cut their price target on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 21st. Finally, DA Davidson reiterated 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.

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.