Allspring Global Investments Holdings LLC Has $1.62 Million Position in Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC reduced its position in Superior Group of Companies, Inc. (NASDAQ:SGC - Free Report) by 45.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,508 shares of the textile maker's stock after selling 87,580 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.62% of Superior Group of Companies worth $1,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in Superior Group of Companies in the first quarter valued at approximately $28,000. Lazard Asset Management LLC boosted its stake in shares of Superior Group of Companies by 10,390.3% during the first quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker's stock valued at $124,000 after acquiring an additional 7,481 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Superior Group of Companies during the second quarter valued at $192,000. Cannon Financial Strategists Inc. purchased a new position in Superior Group of Companies during the second quarter worth about $261,000. Finally, Sei Investments Co. purchased a new position in shares of Superior Group of Companies in the 2nd quarter worth about $266,000. 33.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Superior Group of Companies news, insider Jake Himelstein bought 2,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $26,000.00. Following the completion of the purchase, the insider now owns 40,825 shares in the company, valued at $530,725. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Superior Group of Companies news, insider Jake Himelstein acquired 2,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now directly owns 40,825 shares of the company's stock, valued at approximately $530,725. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Loreen M. Spencer acquired 3,500 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $13.20 per share, for a total transaction of $46,200.00. Following the acquisition, the director now directly owns 7,266 shares in the company, valued at $95,911.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 15,500 shares of company stock worth $206,700 over the last three months. 27.10% of the stock is currently owned by corporate insiders.

Superior Group of Companies Price Performance

Shares of SGC traded down $0.40 during midday trading on Thursday, reaching $14.75. The stock had a trading volume of 46,639 shares, compared to its average volume of 94,214. 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 company has a market capitalization of $246.99 million, a P/E ratio of 20.21, a P/E/G ratio of 2.02 and a beta of 1.41. The firm's 50 day moving average price is $14.84 and its 200-day moving average price is $17.09. Superior Group of Companies, Inc. has a 52 week low of $7.78 and a 52 week high of $21.80.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last issued its 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). Superior Group of Companies had a net margin of 2.02% and a return on equity of 5.63%. The firm had revenue of $131.74 million during the quarter, compared to analysts' expectations of $136.60 million. During the same quarter last year, the firm earned $0.08 EPS. On average, analysts forecast that Superior Group of Companies, Inc. will post 0.74 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Saturday, August 17th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a yield of 3.80%. Superior Group of Companies's dividend payout ratio is currently 76.71%.

Analysts Set New Price Targets

SGC has been the subject of a number of recent analyst reports. Barrington Research lowered their price objective on Superior Group of Companies from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, August 21st. DA Davidson reiterated a "buy" rating and issued a $24.00 target price on shares of Superior Group of Companies in a research report on Tuesday, October 8th. Finally, StockNews.com lowered 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.