Millennium Management LLC increased its holdings in shares of Superior Industries International Inc (NYSE:SUP) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,339 shares of the auto parts company’s stock after purchasing an additional 67,943 shares during the period. Millennium Management LLC owned approximately 1.49% of Superior Industries International worth $6,683,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in SUP. Wells Fargo & Company MN lifted its holdings in shares of Superior Industries International by 7.7% during the 1st quarter. Wells Fargo & Company MN now owns 95,870 shares of the auto parts company’s stock valued at $1,275,000 after purchasing an additional 6,891 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Superior Industries International by 18.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 347,520 shares of the auto parts company’s stock valued at $4,623,000 after acquiring an additional 54,057 shares in the last quarter. Northern Trust Corp lifted its stake in Superior Industries International by 0.9% in the 1st quarter. Northern Trust Corp now owns 1,201,959 shares of the auto parts company’s stock valued at $15,987,000 after acquiring an additional 11,060 shares in the last quarter. BlackRock Inc. lifted its stake in Superior Industries International by 2.8% in the 1st quarter. BlackRock Inc. now owns 3,166,237 shares of the auto parts company’s stock valued at $42,112,000 after acquiring an additional 85,445 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Superior Industries International by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 177,544 shares of the auto parts company’s stock valued at $2,361,000 after acquiring an additional 4,212 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.
SUP stock opened at $13.07 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.31 and a debt-to-equity ratio of 1.59. The company has a market cap of $426.58 million, a P/E ratio of 11.88 and a beta of 1.33. Superior Industries International Inc has a 1-year low of $12.70 and a 1-year high of $22.95.
Superior Industries International (NYSE:SUP) last posted its earnings results on Wednesday, August 8th. The auto parts company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.11. The business had revenue of $389.00 million for the quarter, compared to analyst estimates of $381.14 million. Superior Industries International had a return on equity of 10.77% and a net margin of 1.12%. The firm’s revenue was up 61.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.41) EPS. Equities analysts forecast that Superior Industries International Inc will post 0.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, October 5th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, October 4th. Superior Industries International’s dividend payout ratio is 32.73%.
Several equities research analysts have commented on SUP shares. Zacks Investment Research upgraded Superior Industries International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Barrington Research restated a “buy” rating and issued a $27.00 target price on shares of Superior Industries International in a research note on Monday, August 6th. Buckingham Research cut their target price on Superior Industries International from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 3rd. Finally, ValuEngine upgraded Superior Industries International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.50.
About Superior Industries International
Superior Industries International, Inc designs, manufactures, and sells aluminum wheels to the original equipment manufacturers in North America. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company was founded in 1957 and is headquartered in Southfield, Michigan.
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