Hennion & Walsh Asset Management Inc. Makes New Investment in Superior Group of Companies, Inc. (NASDAQ:SGC)

Hennion & Walsh Asset Management Inc. bought a new position in Superior Group of Companies, Inc. (NASDAQ:SGC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,696 shares of the textile maker’s stock, valued at approximately $117,000. Hennion & Walsh Asset Management Inc. owned 0.06% of Superior Group of Companies at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Superior Group of Companies by 45.9% in the fourth quarter. Bank of New York Mellon Corp now owns 178,526 shares of the textile maker’s stock worth $2,951,000 after purchasing an additional 56,199 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Superior Group of Companies by 51.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 158,000 shares of the textile maker’s stock worth $2,612,000 after purchasing an additional 53,492 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Superior Group of Companies by 36.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 182,888 shares of the textile maker’s stock worth $3,023,000 after purchasing an additional 49,156 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Superior Group of Companies by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 932,310 shares of the textile maker’s stock worth $15,411,000 after purchasing an additional 39,894 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Superior Group of Companies by 11.7% in the fourth quarter. American Century Companies Inc. now owns 363,416 shares of the textile maker’s stock worth $6,007,000 after purchasing an additional 38,207 shares in the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SGC has been the subject of several recent analyst reports. Noble Financial initiated coverage on Superior Group of Companies in a research note on Thursday, May 29th. They issued an “outperform” rating and a $16.00 price target for the company. Wall Street Zen cut Superior Group of Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 19th. Barrington Research decreased their price target 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, DA Davidson decreased their price target on Superior Group of Companies from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th.

Superior Group of Companies Trading Up 1.5%

Shares of SGC stock opened at $10.49 on Tuesday. The stock has a 50-day simple moving average of $10.15 and a 200 day simple moving average of $13.18. Superior Group of Companies, Inc. has a fifty-two week low of $9.11 and a fifty-two week high of $21.42. The stock has a market capitalization of $167.66 million, a P/E ratio of 12.64, a P/E/G ratio of 1.52 and a beta of 1.60. The company has a quick ratio of 1.87, a current ratio of 2.86 and a debt-to-equity ratio of 0.39.

Superior Group of Companies (NASDAQ:SGC) last announced its earnings results 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). Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.75%. The firm had revenue of $137.10 million for the quarter, compared to the consensus estimate of $139.85 million. On average, sell-side analysts expect that Superior Group of Companies, Inc. will post 0.77 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, May 19th. This represents a $0.56 annualized dividend and a yield of 5.34%. Superior Group of Companies’s dividend payout ratio is currently 124.44%.

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.