Alliancebernstein L.P. Sells 232,670 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Alliancebernstein L.P. trimmed its position in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 90.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,090 shares of the company's stock after selling 232,670 shares during the quarter. Alliancebernstein L.P. owned approximately 0.07% of The Shyft Group worth $283,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SHYF. Murphy & Mullick Capital Management Corp bought a new stake in shares of The Shyft Group during the 4th quarter worth about $41,000. Quantbot Technologies LP acquired a new position in shares of The Shyft Group in the fourth quarter valued at approximately $48,000. FMR LLC increased its stake in shares of The Shyft Group by 301.4% during the third quarter. FMR LLC now owns 7,726 shares of the company's stock worth $97,000 after purchasing an additional 5,801 shares during the period. Raymond James Financial Inc. acquired a new stake in The Shyft Group during the 4th quarter worth approximately $209,000. Finally, SG Americas Securities LLC boosted its stake in The Shyft Group by 24.3% in the 4th quarter. SG Americas Securities LLC now owns 18,274 shares of the company's stock valued at $215,000 after purchasing an additional 3,575 shares during the period. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Stock Performance

NASDAQ SHYF traded down $0.61 during trading on Friday, reaching $8.60. The company's stock had a trading volume of 503,191 shares, compared to its average volume of 292,281. The Shyft Group, Inc. has a 12 month low of $6.82 and a 12 month high of $17.56. The firm has a 50 day moving average price of $8.88 and a 200 day moving average price of $11.28. The firm has a market capitalization of $300.42 million, a price-to-earnings ratio of -95.54 and a beta of 1.83. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The firm had revenue of $201.43 million for the quarter, compared to analyst estimates of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. As a group, equities analysts anticipate that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, February 27th. The Shyft Group's payout ratio is -222.22%.

Analyst Upgrades and Downgrades

Separately, DA Davidson upgraded The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 15th.

The Shyft Group Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.