Hsbc Holdings PLC Makes New Investment in Superior Group of Companies, Inc. $SGC

Key Points

• Hsbc Holdings PLC has acquired a new stake in Superior Group of Companies, Inc., purchasing 22,233 shares valued at approximately $247,000, representing about 0.13% of the company.
• Superior Group's recent earnings report revealed an EPS of $0.10, exceeding the consensus estimate of $0.05, and the company recorded revenue of $144.05 million for the quarter.
• The company declared a quarterly dividend of $0.14 per share, resulting in an annualized dividend of $0.56 and a dividend yield of 4.5% with a payout ratio of 109.80%.

Hsbc Holdings PLC acquired a new position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,233 shares of the textile maker's stock, valued at approximately $247,000. Hsbc Holdings PLC owned about 0.13% of Superior Group of Companies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Superior Group of Companies by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,489 shares of the textile maker's stock worth $290,000 after purchasing an additional 881 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Superior Group of Companies by 0.3% in the first quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker's stock valued at $4,275,000 after acquiring an additional 1,000 shares during the period. Bank of America Corp DE boosted its holdings in shares of Superior Group of Companies by 17.9% in the fourth quarter. Bank of America Corp DE now owns 12,888 shares of the textile maker's stock valued at $213,000 after acquiring an additional 1,960 shares during the period. Barclays PLC boosted its holdings in shares of Superior Group of Companies by 11.4% in the fourth quarter. Barclays PLC now owns 24,718 shares of the textile maker's stock valued at $409,000 after acquiring an additional 2,537 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Superior Group of Companies by 16.7% in the fourth quarter. Two Sigma Advisers LP now owns 18,900 shares of the textile maker's stock valued at $312,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 33.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SGC shares. Wall Street Zen raised Superior Group of Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barrington Research increased their price objective on Superior Group of Companies from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Noble Financial started coverage on Superior Group of Companies in a report on Thursday, May 29th. They issued an "outperform" rating and a $16.00 price objective for the company. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $17.33.

Superior Group of Companies Stock Performance

Shares of NASDAQ SGC traded down $0.31 during mid-day trading on Friday, hitting $12.21. 38,678 shares of the company were exchanged, compared to its average volume of 42,060. The company has a quick ratio of 1.70, a current ratio of 2.71 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $11.48 and a 200-day simple moving average of $11.10. Superior Group of Companies, Inc. has a 1-year low of $9.11 and a 1-year high of $18.48. The firm has a market cap of $194.99 million, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.41.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The textile maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. Superior Group of Companies had a return on equity of 4.22% and a net margin of 1.44%.The firm had revenue of $144.05 million during the quarter, compared to the consensus estimate of $133.32 million. Superior Group of Companies has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Superior Group of Companies, Inc. will post 0.77 EPS for the current fiscal year.

Superior Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.14 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.56 annualized dividend and a yield of 4.6%. Superior Group of Companies's dividend payout ratio is presently 109.80%.

Insider Transactions at Superior Group of Companies

In other Superior Group of Companies news, Director Andrew D. Demott, Jr. sold 12,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $11.46, for a total value of $137,520.00. Following the completion of the transaction, the director owned 202,126 shares in the company, valued at approximately $2,316,363.96. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 26.70% of the company's stock.

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.