Superior Group of Companies (NASDAQ:SGC) Shares Up 12.6% After Dividend Announcement
Superior Group of Companies Inc (NASDAQ:SGC)’s stock price shot up 12.6% on Friday after the company announced a dividend. The company traded as high as $19.93 and last traded at $19.25, 220,240 shares changed hands during mid-day trading. An increase of 473% from the average session volume of 38,437 shares. The stock had previously closed at $17.09.
The newly announced dividend which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, August 10th.
A number of research firms have weighed in on SGC. ValuEngine upgraded shares of Superior Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday, June 11th. Barrington Research restated an “outperform” rating and set a $21.00 price objective (up from $13.00) on shares of Superior Group of Companies in a research report on Thursday. Finally, Zacks Investment Research cut shares of Superior Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th.
Superior Group of Companies (NASDAQ:SGC) last issued its earnings results on Wednesday, July 29th. The textile maker reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.76. The business had revenue of $159.36 million during the quarter, compared to analysts’ expectations of $104.13 million. Superior Group of Companies had a net margin of 5.64% and a return on equity of 15.74%. On average, sell-side analysts anticipate that Superior Group of Companies Inc will post 0.75 earnings per share for the current year.
In other news, insider Philip Koosed sold 25,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $17.17, for a total value of $429,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.50% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new stake in shares of Superior Group of Companies during the 2nd quarter valued at approximately $76,000. Parametric Portfolio Associates LLC raised its position in Superior Group of Companies by 13.8% in the first quarter. Parametric Portfolio Associates LLC now owns 11,516 shares of the textile maker’s stock valued at $97,000 after purchasing an additional 1,396 shares during the period. UBS Group AG raised its position in Superior Group of Companies by 54.3% in the fourth quarter. UBS Group AG now owns 13,184 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 4,639 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Superior Group of Companies in the second quarter valued at approximately $205,000. Finally, HighTower Advisors LLC raised its position in Superior Group of Companies by 13.8% in the first quarter. HighTower Advisors LLC now owns 16,451 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 2,000 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.
Superior Group of Companies Company Profile (NASDAQ:SGC)
Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Uniforms and Related Products, Remote Staffing Solutions, and Promotional Products. The Uniforms and Related Products segment manufactures and sells a range of uniforms, corporate identity apparel, career apparel, and accessories for personnel of hospitals and health facilities; hotels; food service facilities; retail stores; general and special purpose industrial uses; commercial enterprises; airlines; public and private safety and security organizations; and miscellaneous service uses.
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