Connors Investor Services Inc. decreased its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 40.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,771 shares of the company's stock after selling 91,061 shares during the quarter. Connors Investor Services Inc. owned 0.38% of The Shyft Group worth $1,547,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of SHYF. Barclays PLC lifted its holdings in The Shyft Group by 257.9% during the third quarter. Barclays PLC now owns 45,666 shares of the company's stock valued at $573,000 after purchasing an additional 32,906 shares in the last quarter. Geode Capital Management LLC grew its holdings in The Shyft Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 773,150 shares of the company's stock valued at $9,705,000 after buying an additional 9,588 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of The Shyft Group by 76.7% in the 3rd quarter. Franklin Resources Inc. now owns 54,727 shares of the company's stock worth $669,000 after acquiring an additional 23,761 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of The Shyft Group by 49.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company's stock worth $2,216,000 after acquiring an additional 58,816 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of The Shyft Group by 24.3% during the 4th quarter. SG Americas Securities LLC now owns 18,274 shares of the company's stock valued at $215,000 after acquiring an additional 3,575 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company's stock.
The Shyft Group Trading Up 1.1 %
NASDAQ SHYF opened at $8.57 on Wednesday. The Shyft Group, Inc. has a 12 month low of $6.82 and a 12 month high of $17.56. The stock has a market capitalization of $299.37 million, a P/E ratio of -95.21 and a beta of 1.83. The firm's 50-day moving average is $8.72 and its two-hundred day moving average is $11.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16.
The Shyft Group (NASDAQ:SHYF - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $201.43 million for the quarter, compared to analysts' expectations of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. On average, sell-side analysts anticipate that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.
The Shyft Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.33%. The Shyft Group's payout ratio is currently 2,000.00%.
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Wednesday, January 15th.
Get Our Latest Analysis on The Shyft Group
The Shyft Group Profile
(
Free Report)
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.
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