Allspring Global Investments Holdings LLC Acquires 70,400 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC grew its position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) by 205.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,607 shares of the textile maker’s stock after buying an additional 70,400 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.63% of Superior Group of Companies worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new position in shares of Superior Group of Companies during the 4th quarter valued at $113,000. Aegis Financial Corp lifted its holdings in shares of Superior Group of Companies by 10.7% during the 4th quarter. Aegis Financial Corp now owns 421,036 shares of the textile maker’s stock valued at $5,684,000 after buying an additional 40,749 shares during the period. Redmont Wealth Advisors LLC increased its stake in shares of Superior Group of Companies by 16.8% in the 4th quarter. Redmont Wealth Advisors LLC now owns 77,760 shares of the textile maker’s stock worth $1,050,000 after purchasing an additional 11,168 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Superior Group of Companies by 36.2% in the 4th quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker’s stock worth $5,275,000 after purchasing an additional 103,920 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Superior Group of Companies by 67.6% in the 3rd quarter. Quadrature Capital Ltd now owns 18,364 shares of the textile maker’s stock worth $141,000 after purchasing an additional 7,408 shares in the last quarter. 33.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SGC shares. Singular Research restated a “buy” rating on shares of Superior Group of Companies in a research note on Tuesday, March 19th. Barrington Research restated an “outperform” rating and issued a $22.00 price objective on shares of Superior Group of Companies in a research note on Tuesday, May 28th. DA Davidson restated a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a research note on Monday, June 24th. Finally, StockNews.com upgraded Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th.

Superior Group of Companies Trading Up 0.5 %

Shares of SGC stock opened at $19.33 on Thursday. Superior Group of Companies, Inc. has a 52-week low of $7.36 and a 52-week high of $21.80. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.98 and a current ratio of 3.03. The firm has a market capitalization of $323.78 million, a PE ratio of 26.48, a PEG ratio of 2.55 and a beta of 1.46. The stock has a fifty day simple moving average of $19.18 and a two-hundred day simple moving average of $16.33.

Superior Group of Companies (NASDAQ:SGC) last issued its quarterly earnings results on Tuesday, May 7th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. Superior Group of Companies had a return on equity of 6.00% and a net margin of 2.14%. The business had revenue of $138.84 million during the quarter, compared to analyst estimates of $135.08 million. On average, analysts predict that Superior Group of Companies, Inc. will post 0.75 EPS for the current fiscal year.

Superior Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.90%. Superior Group of Companies’s payout ratio is presently 76.71%.

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.