Redmont Wealth Advisors LLC Sells 2,408 Shares of Superior Group of Companies, Inc. (NASDAQ:SGC)

Redmont Wealth Advisors LLC trimmed its position in shares of Superior Group of Companies, Inc. (NASDAQ:SGC) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,955 shares of the textile maker’s stock after selling 2,408 shares during the period. Superior Group of Companies comprises 1.3% of Redmont Wealth Advisors LLC’s holdings, making the stock its 15th biggest holding. Redmont Wealth Advisors LLC owned approximately 0.32% of Superior Group of Companies worth $836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Superior Group of Companies during the first quarter worth $28,000. Lazard Asset Management LLC lifted its holdings in Superior Group of Companies by 10,390.3% during the 1st quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock valued at $124,000 after buying an additional 7,481 shares in the last quarter. Algert Global LLC purchased a new stake in Superior Group of Companies in the 2nd quarter valued at about $192,000. Cannon Financial Strategists Inc. purchased a new stake in Superior Group of Companies in the 2nd quarter valued at about $261,000. Finally, Sei Investments Co. bought a new position in Superior Group of Companies in the 2nd quarter worth about $266,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

Superior Group of Companies Stock Performance

Shares of NASDAQ:SGC opened at $15.59 on Friday. The firm has a 50 day moving average of $14.50 and a 200 day moving average of $17.18. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.36. The company 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. Superior Group of Companies, Inc. has a 52 week low of $7.65 and a 52 week high of $21.80.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Superior Group of Companies had a return on equity of 5.63% and a net margin of 2.02%. The company had revenue of $131.74 million during the quarter, compared to the consensus estimate of $136.60 million. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Saturday, August 17th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Friday, August 16th. Superior Group of Companies’s dividend payout ratio is currently 81.16%.

Insider Transactions at Superior Group of Companies

In other news, CEO Michael Benstock bought 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Superior Group of Companies news, CEO Michael Benstock bought 10,000 shares of Superior Group of Companies stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $13.45 per share, with a total value of $134,500.00. Following the transaction, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Loreen M. Spencer purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.20 per share, with a total value of $46,200.00. Following the completion of the purchase, the director now owns 7,266 shares of the company’s stock, valued at $95,911.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 15,500 shares of company stock valued at $206,700 in the last 90 days. Insiders own 26.50% of the company’s stock.

Wall Street Analyst Weigh In

SGC has been the subject of several research analyst reports. Barrington Research decreased their price target 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. DA Davidson reissued a “buy” rating and set a $24.00 price target on shares of Superior Group of Companies in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

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.