Zacks Investment Research upgraded shares of Superior Industries International (NYSE:SUP) from a sell rating to a hold rating in a report issued on Monday morning.
According to Zacks, “Superior Industries is undertaking different strategies to reduce costs and enhance its global competitive position. The company is also investing in new manufacturing processes in order to manufacture products with better finishes. Moreover, the acquisition of UNIWHEELS will enable the company to expand its global reach, diversify customer base and expand their technological capabilities. However, its shares have underperformed the industry it belongs to in the last three months. Rising capital expenditure, operating inefficiencies and changing energy prices are few of its concerns. Moreover, a large part of Superior Industries business is conducted in Mexico and Europe, which exposes the company to currency fluctuations.”
SUP has been the topic of several other reports. B. Riley reiterated a buy rating and set a $25.00 target price on shares of Superior Industries International in a research report on Monday, November 13th. Barrington Research began coverage on Superior Industries International in a research report on Tuesday, January 9th. They set an outperform rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Superior Industries International has an average rating of Hold and an average price target of $23.75.
Superior Industries International (NYSE:SUP) last released its quarterly earnings results on Thursday, November 9th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.58). The firm had revenue of $331.40 million during the quarter, compared to analysts’ expectations of $316.20 million. Superior Industries International had a return on equity of 7.96% and a net margin of 0.66%. The business’s quarterly revenue was up 88.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. sell-side analysts expect that Superior Industries International will post 0.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Thursday, January 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.36 annualized dividend and a yield of 2.07%. Superior Industries International’s dividend payout ratio (DPR) is presently -180.00%.
In related news, Director Michael Bruynesteyn bought 2,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average cost of $16.00 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the director now owns 7,946 shares of the company’s stock, valued at $127,136. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of SUP. PNC Financial Services Group Inc. raised its holdings in Superior Industries International by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 5,616 shares of the auto parts company’s stock valued at $115,000 after acquiring an additional 69 shares during the period. Louisiana State Employees Retirement System bought a new stake in Superior Industries International during the fourth quarter valued at about $149,000. Cubist Systematic Strategies LLC bought a new stake in Superior Industries International during the third quarter valued at about $155,000. BNP Paribas Arbitrage SA increased its holdings in shares of Superior Industries International by 51.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the auto parts company’s stock worth $186,000 after purchasing an additional 3,094 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Superior Industries International in the third quarter worth about $186,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.
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Superior Industries International Company Profile
Superior Industries International, Inc is engaged in the design and manufacture of aluminum wheels for sale to original equipment manufacturers (OEMs). The Company supplies cast aluminum wheels to automobile and light truck manufacturers, with wheel manufacturing operations in the United States and Mexico.
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