Superior Industries International (NYSE:SUP) Earns Strong-Buy Rating from Analysts at StockNews.com

Posted by on Jun 6th, 2023

Investment analysts at StockNews.com initiated coverage on shares of Superior Industries International (NYSE:SUP – Get Rating) in a report issued on Tuesday. The brokerage set a “strong-buy” rating on the auto parts company’s stock.

Superior Industries International Trading Down 3.0 %

Shares of NYSE SUP opened at $3.53 on Tuesday. The stock has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $4.88. Superior Industries International has a 1-year low of $2.88 and a 1-year high of $7.38. The firm has a market cap of $98.52 million, a price-to-earnings ratio of -6.79 and a beta of 3.89.

Insider Buying and Selling at Superior Industries International

In other news, major shareholder Mill Road Capital Iii, L.P. acquired 53,786 shares of Superior Industries International stock in a transaction on Friday, March 31st. The stock was acquired at an average cost of $4.99 per share, with a total value of $268,392.14. Following the completion of the acquisition, the insider now owns 4,127,820 shares in the company, valued at $20,597,821.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Mill Road Capital Iii, L.P. purchased 53,786 shares of the business’s stock in a transaction dated Friday, March 31st. The stock was purchased at an average cost of $4.99 per share, with a total value of $268,392.14. Following the completion of the acquisition, the insider now directly owns 4,127,820 shares of the company’s stock, valued at $20,597,821.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Parveen Kakar sold 69,544 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $6.24, for a total value of $433,954.56. Following the completion of the transaction, the senior vice president now directly owns 15,473 shares of the company’s stock, valued at $96,551.52. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 122,836 shares of company stock valued at $613,532. Company insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Superior Industries International

Large investors have recently made changes to their positions in the stock. Nierenberg Investment Management Company Inc. raised its position in shares of Superior Industries International by 41.1% in the fourth quarter. Nierenberg Investment Management Company Inc. now owns 230,110 shares of the auto parts company’s stock worth $971,000 after buying an additional 67,000 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Superior Industries International by 2.8% in the third quarter. Essex Investment Management Co. LLC now owns 646,826 shares of the auto parts company’s stock worth $1,953,000 after buying an additional 17,402 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Superior Industries International in the third quarter worth $35,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Superior Industries International in the third quarter worth $28,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Superior Industries International by 16.0% in the first quarter. Janney Montgomery Scott LLC now owns 36,564 shares of the auto parts company’s stock worth $181,000 after buying an additional 5,041 shares in the last quarter. 61.22% of the stock is owned by institutional investors.

Superior Industries International Company Profile

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Superior Industries International, Inc engages in the design and manufacture of aluminum road wheels for passenger cars and light-duty vehicles. It operates through the North America and Europe segments. The company was founded by Louis L. Borick in 1957 and is headquartered in Southfield, MI.

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