Superior Group of Companies, Inc. (NASDAQ:SGC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Superior Group of Companies, Inc. (NASDAQ:SGC - Free Report) by 66.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,666 shares of the textile maker's stock after selling 105,334 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.32% of Superior Group of Companies worth $576,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Superior Group of Companies by 45.9% during the fourth quarter. Bank of New York Mellon Corp now owns 178,526 shares of the textile maker's stock valued at $2,951,000 after buying an additional 56,199 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Superior Group of Companies in the 4th quarter valued at approximately $249,000. American Century Companies Inc. increased its holdings in shares of Superior Group of Companies by 11.7% in the 4th quarter. American Century Companies Inc. now owns 363,416 shares of the textile maker's stock valued at $6,007,000 after acquiring an additional 38,207 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Superior Group of Companies during the 4th quarter valued at approximately $331,000. Finally, Prudential Financial Inc. lifted its stake in Superior Group of Companies by 24.7% during the fourth quarter. Prudential Financial Inc. now owns 15,160 shares of the textile maker's stock worth $251,000 after purchasing an additional 3,000 shares during the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Superior Group of Companies Stock Performance

SGC stock opened at $10.86 on Thursday. Superior Group of Companies, Inc. has a 1 year low of $9.11 and a 1 year high of $20.75. The stock has a market capitalization of $173.54 million, a price-to-earnings ratio of 24.13, a PEG ratio of 2.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.85 and a current ratio of 2.90. The stock's fifty day moving average is $10.25 and its two-hundred day moving average is $12.26.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The textile maker reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). The firm had revenue of $137.10 million during the quarter, compared to the consensus estimate of $139.85 million. Superior Group of Companies had a net margin of 1.30% and a return on equity of 3.70%. On average, research analysts predict that Superior Group of Companies, Inc. will post 0.77 EPS for the current year.

Superior Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date was Monday, May 19th. Superior Group of Companies's dividend payout ratio (DPR) is 124.44%.

Wall Street Analysts Forecast Growth

SGC has been the subject of several recent research reports. Barrington Research lowered their target price on shares of Superior Group of Companies from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. DA Davidson lowered their price objective on shares of Superior Group of Companies from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Wall Street Zen cut shares of Superior Group of Companies from a "buy" rating to a "hold" rating in a report on Saturday, April 19th. Finally, Noble Financial began coverage on Superior Group of Companies in a research note on Thursday, May 29th. They issued an "outperform" rating and a $16.00 target price for the company.

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.

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