Superior Industries International (NYSE:SUP) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on Jun 22nd, 2023

StockNews.com assumed coverage on shares of Superior Industries International (NYSE:SUP – Get Rating) in a research note issued on Thursday. The firm set a “strong-buy” rating on the auto parts company’s stock.

Superior Industries International Trading Up 1.7 %

NYSE:SUP opened at $3.58 on Thursday. The company’s 50-day moving average price is $3.98 and its 200-day moving average price is $4.78. The company has a market cap of $99.92 million, a P/E ratio of -6.88 and a beta of 3.89. Superior Industries International has a twelve month low of $2.88 and a twelve month high of $7.38.

Superior Industries International (NYSE:SUP – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The auto parts company reported ($0.07) earnings per share for the quarter. The business had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $404.51 million. Superior Industries International had a negative return on equity of 76.52% and a net margin of 1.41%.

Insider Buying and Selling

In other news, major shareholder Mill Road Capital Iii, L.P. acquired 66,300 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $331,500.00. Following the completion of the transaction, the insider now owns 4,196,870 shares in the company, valued at $20,984,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 122,836 shares of company stock worth $613,532. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Superior Industries International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC acquired a new stake in shares of Superior Industries International during the fourth quarter valued at about $1,013,000. Millennium Management LLC grew its holdings in shares of Superior Industries International by 208.1% in the second quarter. Millennium Management LLC now owns 321,046 shares of the auto parts company’s stock valued at $1,268,000 after purchasing an additional 216,846 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Superior Industries International by 27.9% during the 4th quarter. First Eagle Investment Management LLC now owns 613,028 shares of the auto parts company’s stock worth $2,587,000 after buying an additional 133,754 shares during the period. Renaissance Technologies LLC increased its stake in Superior Industries International by 15.0% during the 1st quarter. Renaissance Technologies LLC now owns 931,709 shares of the auto parts company’s stock worth $4,612,000 after buying an additional 121,700 shares during the period. Finally, Essex Investment Management Co. LLC increased its stake in Superior Industries International by 16.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 749,540 shares of the auto parts company’s stock worth $3,710,000 after buying an additional 108,450 shares during the period. 45.00% of the stock is currently owned by institutional investors and hedge funds.

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.