Cornercap Investment Counsel Inc. Invests $638,000 in Superior Group of Companies, Inc. (NASDAQ:SGC)

Cornercap Investment Counsel Inc. acquired a new position in Superior Group of Companies, Inc. (NASDAQ:SGC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,758 shares of the textile maker’s stock, valued at approximately $638,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EntryPoint Capital LLC bought a new stake in Superior Group of Companies during the first quarter worth about $28,000. Hillsdale Investment Management Inc. bought a new stake in Superior Group of Companies in the 4th quarter worth approximately $113,000. Lazard Asset Management LLC boosted its stake in Superior Group of Companies by 10,390.3% in the first quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock worth $124,000 after buying an additional 7,481 shares in the last quarter. Acadian Asset Management LLC grew its position in Superior Group of Companies by 68.5% during the first quarter. Acadian Asset Management LLC now owns 19,557 shares of the textile maker’s stock valued at $321,000 after acquiring an additional 7,953 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Superior Group of Companies by 2,824.1% during the second quarter. Rhumbline Advisers now owns 17,252 shares of the textile maker’s stock worth $326,000 after acquiring an additional 16,662 shares in the last quarter. 33.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Superior Group of Companies

In other Superior Group of Companies news, CEO Michael Benstock acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $13.45 per share, for a total transaction of $134,500.00. Following the transaction, the chief executive officer now owns 583,848 shares in the company, valued at $7,852,755.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Loreen M. Spencer purchased 3,500 shares of Superior Group of Companies stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $13.20 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the director now directly owns 7,266 shares of the company’s stock, valued at $95,911.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Benstock acquired 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was bought at an average price of $13.45 per share, with a total value of $134,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at $7,852,755.60. The disclosure for this purchase can be found here. Insiders acquired 15,500 shares of company stock valued at $206,700 in the last 90 days. Insiders own 27.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SGC. Barrington Research cut their price objective on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, August 21st. StockNews.com lowered shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a report on Monday, June 24th.

Superior Group of Companies Stock Up 4.2 %

Shares of Superior Group of Companies stock opened at $15.05 on Friday. The company’s 50 day moving average price is $16.28 and its 200-day moving average price is $17.21. Superior Group of Companies, Inc. has a 52-week low of $7.36 and a 52-week high of $21.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 2.82. The stock has a market capitalization of $252.39 million, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.93 and a beta of 1.42.

Superior Group of Companies (NASDAQ:SGC) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $131.74 million during the quarter, compared to the consensus estimate of $136.60 million. Superior Group of Companies had a return on equity of 5.63% and a net margin of 2.02%. During the same period last year, the business earned $0.08 EPS. Equities research analysts forecast that Superior Group of Companies, Inc. will post 0.74 EPS for the current year.

Superior Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Saturday, August 17th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, August 16th. This represents a $0.56 dividend on an annualized basis and a yield of 3.72%. Superior Group of Companies’s dividend payout ratio is presently 76.71%.

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.