Allspring Global Investments Holdings LLC Sells 105,334 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Allspring Global Investments Holdings LLC lowered its position in Superior Group of Companies, Inc. (NASDAQ:SGC - Free Report) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,666 shares of the textile maker's stock after selling 105,334 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of Superior Group of Companies worth $576,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SGC. North Star Investment Management Corp. grew its holdings in Superior Group of Companies by 0.3% during 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 purchasing an additional 1,000 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Superior Group of Companies during the first quarter valued at about $117,000. Two Sigma Advisers LP grew its holdings in Superior Group of Companies by 16.7% during the fourth quarter. Two Sigma Advisers LP now owns 18,900 shares of the textile maker's stock valued at $312,000 after purchasing an additional 2,700 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Superior Group of Companies by 32.1% in the fourth quarter. Lazard Asset Management LLC now owns 55,218 shares of the textile maker's stock worth $912,000 after acquiring an additional 13,411 shares during the period. Finally, Focus Partners Wealth bought a new position in shares of Superior Group of Companies in the fourth quarter worth about $235,000. Institutional investors own 33.75% of the company's stock.

Superior Group of Companies Price Performance

Shares of NASDAQ:SGC traded down $0.16 during mid-day trading on Friday, reaching $10.96. The stock had a trading volume of 21,755 shares, compared to its average volume of 64,068. The company has a current ratio of 2.90, a quick ratio of 1.85 and a debt-to-equity ratio of 0.46. The company has a market cap of $175.14 million, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 2.23 and a beta of 1.58. Superior Group of Companies, Inc. has a 1 year low of $9.11 and a 1 year high of $20.75. The business's 50 day moving average price is $10.27 and its 200 day moving average price is $12.16.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last posted its earnings results on Thursday, May 8th. The textile maker reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.16). The firm had revenue of $137.10 million during the quarter, compared to analysts' expectations of $139.85 million. Superior Group of Companies had a return on equity of 3.70% and a net margin of 1.30%. Research analysts expect that Superior Group of Companies, Inc. will post 0.77 EPS for the current fiscal year.

Superior Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.14 per share. The ex-dividend date was Monday, May 19th. This represents a $0.56 dividend on an annualized basis and a yield of 5.11%. Superior Group of Companies's dividend payout ratio (DPR) is presently 124.44%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Noble Financial assumed coverage on Superior Group of Companies in a research note on Thursday, May 29th. They issued an "outperform" rating and a $16.00 price objective for the company. Barrington Research dropped their price objective on 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. Finally, Wall Street Zen lowered Superior Group of Companies from a "buy" rating to a "hold" rating in a research note on Saturday, April 19th.

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.