Bank of New York Mellon Corp Grows Stake in Superior Group of Companies, Inc. (NASDAQ:SGC)

Bank of New York Mellon Corp boosted its stake in shares of Superior Group of Companies, Inc. (NASDAQ:SGC - Free Report) by 45.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 178,526 shares of the textile maker's stock after purchasing an additional 56,199 shares during the period. Bank of New York Mellon Corp owned approximately 1.09% of Superior Group of Companies worth $2,951,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC lifted 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 worth $118,000 after purchasing an additional 4,303 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Superior Group of Companies during the 3rd quarter valued at approximately $154,000. HighTower Advisors LLC purchased a new stake in shares of Superior Group of Companies in the 3rd quarter valued at $167,000. Mason & Associates Inc acquired a new stake in shares of Superior Group of Companies in the fourth quarter worth $181,000. Finally, EMC Capital Management raised its holdings in shares of Superior Group of Companies by 59.5% during the fourth quarter. EMC Capital Management now owns 11,803 shares of the textile maker's stock worth $195,000 after purchasing an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 33.75% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SGC. StockNews.com downgraded Superior Group of Companies from a "buy" rating to a "hold" rating in a research report on Thursday. DA Davidson dropped their target price on Superior Group of Companies from $24.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Barrington Research decreased their price target on Superior Group of Companies from $21.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, March 13th.

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Superior Group of Companies Stock Performance

SGC traded up $0.38 on Monday, reaching $11.18. The stock had a trading volume of 70,095 shares, compared to its average volume of 82,322. The business's 50-day moving average price is $14.28 and its two-hundred day moving average price is $15.26. The company has a market cap of $184.22 million, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. Superior Group of Companies, Inc. has a 12-month low of $10.60 and a 12-month 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The textile maker reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $145.41 million during the quarter, compared to analysts' expectations of $146.54 million. Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.75%. Sell-side analysts forecast that Superior Group of Companies, Inc. will post 0.77 earnings per share for the current year.

Superior Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Tuesday, February 18th. Superior Group of Companies's payout ratio is 75.68%.

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.