JPMorgan Chase & Co. Raises Stock Position in Superior Group of Companies, Inc. (NASDAQ:SGC)

JPMorgan Chase & Co. raised its holdings in Superior Group of Companies, Inc. (NASDAQ:SGC) by 3.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,902 shares of the textile maker’s stock after acquiring an additional 1,193 shares during the quarter. JPMorgan Chase & Co.’s holdings in Superior Group of Companies were worth $618,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of Superior Group of Companies by 148.4% in the third quarter. US Bancorp DE now owns 2,894 shares of the textile maker’s stock worth $45,000 after acquiring an additional 1,729 shares during the period. Janney Montgomery Scott LLC raised its position in Superior Group of Companies by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 58,213 shares of the textile maker’s stock worth $902,000 after acquiring an additional 1,900 shares during the period. Empowered Funds LLC raised its position in Superior Group of Companies by 5.4% during the third quarter. Empowered Funds LLC now owns 81,637 shares of the textile maker’s stock worth $1,265,000 after acquiring an additional 4,154 shares during the period. MetLife Investment Management LLC lifted its holdings in 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 valued at $118,000 after purchasing an additional 4,303 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Superior Group of Companies by 44.2% in the third quarter. Jane Street Group LLC now owns 15,971 shares of the textile maker’s stock valued at $247,000 after purchasing an additional 4,895 shares during the period. Institutional investors and hedge funds own 33.75% of the company’s stock.

Superior Group of Companies Stock Performance

NASDAQ:SGC opened at $15.64 on Tuesday. The firm has a market capitalization of $255.56 million, a price-to-earnings ratio of 18.84, a PEG ratio of 1.61 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.86 and a quick ratio of 1.87. The company’s 50-day moving average is $16.27 and its two-hundred day moving average is $15.94. Superior Group of Companies, Inc. has a 1-year low of $11.66 and a 1-year high of $21.80.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings results on Wednesday, November 6th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $149.69 million for the quarter, compared to the consensus estimate of $143.03 million. Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.75%. During the same period in the previous year, the firm earned $0.19 EPS. Analysts forecast that Superior Group of Companies, Inc. will post 0.77 EPS for the current year.

Superior Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Wednesday, November 13th. Superior Group of Companies’s payout ratio is presently 67.47%.

Insider Transactions at Superior Group of Companies

In related news, Director Andrew D. Demott, Jr. sold 12,500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $16.32, for a total transaction of $204,000.00. Following the completion of the transaction, the director now owns 205,281 shares in the company, valued at approximately $3,350,185.92. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 27.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $24.00 price target on shares of Superior Group of Companies in a research note on Tuesday, October 8th. Barrington Research increased their price objective on shares of Superior Group of Companies from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 3rd.

Superior Group of Companies Company 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.