Superior Group of Companies, Inc. (NASDAQ:SGC) Shares Sold by Redmont Wealth Advisors LLC

by · The Cerbat Gem

Redmont Wealth Advisors LLC lowered its holdings in Superior Group of Companies, Inc. (NASDAQ:SGC – Free Report) by 4.3% during the third quarter, Holdings Channel reports. The fund owned 53,955 shares of the textile maker’s stock after selling 2,408 shares during the quarter. Superior Group of Companies makes up 1.3% of Redmont Wealth Advisors LLC’s holdings, making the stock its 15th largest holding. Redmont Wealth Advisors LLC’s holdings in Superior Group of Companies were worth $836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Superior Group of Companies during the 1st quarter worth about $28,000. Lazard Asset Management LLC grew its holdings in Superior Group of Companies by 10,390.3% during the first quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock worth $124,000 after acquiring an additional 7,481 shares during the period. Algert Global LLC purchased a new position in Superior Group of Companies during the second quarter valued at approximately $192,000. Cannon Financial Strategists Inc. purchased a new position in Superior Group of Companies during the second quarter valued at approximately $261,000. Finally, Sei Investments Co. acquired a new position in Superior Group of Companies in the second quarter valued at approximately $266,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Superior Group of Companies

In other news, insider Jake Himelstein acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now owns 40,825 shares of the company’s stock, valued at approximately $530,725. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Superior Group of Companies news, insider Jake Himelstein acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now owns 40,825 shares in the company, valued at approximately $530,725. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Benstock bought 10,000 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $13.45 per share, for a total transaction of $134,500.00. Following the completion of the acquisition, the chief executive officer now owns 583,848 shares in the company, valued at approximately $7,852,755.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 15,500 shares of company stock valued at $206,700 over the last ninety days. Insiders own 26.50% of the company’s stock.

Superior Group of Companies Trading Down 0.4 %

Shares of NASDAQ:SGC opened at $15.59 on Friday. The business’s 50 day moving average price is $14.50 and its 200-day moving average price is $17.18. Superior Group of Companies, Inc. has a 1 year low of $7.65 and a 1 year high of $21.80. The firm has a market capitalization of $261.44 million, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.06 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 1.82.

Superior Group of Companies (NASDAQ:SGC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $131.74 million for the quarter, compared to analysts’ expectations of $136.60 million. Superior Group of Companies had a net margin of 2.02% and a return on equity of 5.63%. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts forecast that Superior Group of Companies, Inc. will post 0.74 earnings per share for the current fiscal year.

Superior Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Saturday, August 17th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 3.59%. Superior Group of Companies’s dividend payout ratio (DPR) is presently 81.16%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SGC shares. StockNews.com cut shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. DA Davidson reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a report on Tuesday, October 8th. Finally, Barrington Research lowered their target price on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 21st.

Get Our Latest Research Report on SGC

About Superior Group of Companies

(Free Report)

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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