Millennium Management LLC Boosts Holdings in Superior Industries International Inc (SUP)
Millennium Management LLC raised its position in Superior Industries International Inc (NYSE:SUP) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 373,339 shares of the auto parts company’s stock after purchasing an additional 67,943 shares during the quarter. Millennium Management LLC’s holdings in Superior Industries International were worth $6,683,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Superior Industries International in the second quarter valued at about $150,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Superior Industries International in the second quarter valued at about $215,000. Trexquant Investment LP acquired a new stake in shares of Superior Industries International in the second quarter valued at about $235,000. Engineers Gate Manager LP acquired a new stake in shares of Superior Industries International in the second quarter valued at about $432,000. Finally, First Trust Advisors LP increased its stake in shares of Superior Industries International by 18.5% in the second quarter. First Trust Advisors LP now owns 26,355 shares of the auto parts company’s stock valued at $472,000 after buying an additional 4,106 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.
Several brokerages have recently weighed in on SUP. Buckingham Research decreased their price target on Superior Industries International from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, October 3rd. ValuEngine cut Superior Industries International from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Zacks Investment Research raised Superior Industries International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Finally, Barrington Research reissued a “buy” rating and issued a $27.00 price target on shares of Superior Industries International in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.50.
Superior Industries International (NYSE:SUP) last released its earnings results on Wednesday, August 8th. The auto parts company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.14 by $0.11. Superior Industries International had a return on equity of 10.77% and a net margin of 1.12%. The business had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $381.14 million. During the same quarter last year, the firm posted ($0.41) earnings per share. The firm’s revenue was up 61.7% on a year-over-year basis. As a group, research analysts predict that Superior Industries International Inc will post 0.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, October 5th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.36 annualized dividend and a yield of 2.75%. Superior Industries International’s dividend payout ratio is currently 32.73%.
Superior Industries International Company Profile
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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