Federated Hermes Inc. Takes $1.24 Million Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Federated Hermes Inc. bought a new position in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 101,134 shares of the company's stock, valued at approximately $1,236,000. Federated Hermes Inc. owned approximately 0.29% of The Shyft Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SHYF. Peoples Bank KS purchased a new position in shares of The Shyft Group in the third quarter worth $45,000. First Command Advisory Services Inc. purchased a new position in shares of The Shyft Group in the third quarter worth $81,000. Sequoia Financial Advisors LLC purchased a new position in shares of The Shyft Group in the fourth quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Shyft Group by 54.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,373 shares of the company's stock worth $125,000 after purchasing an additional 2,945 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Shyft Group by 31.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,978 shares of the company's stock worth $134,000 after purchasing an additional 2,605 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price target on shares of The Shyft Group from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 27th.

Insider Buying and Selling at The Shyft Group

In other news, CEO John Albert Dunn acquired 4,545 shares of the business's stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the completion of the transaction, the chief executive officer now directly owns 35,894 shares of the company's stock, valued at approximately $394,834. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.54% of the company's stock.

The Shyft Group Price Performance

SHYF traded down $0.14 during trading hours on Wednesday, hitting $10.74. The company's stock had a trading volume of 166,485 shares, compared to its average volume of 283,499. The business's 50-day moving average price is $11.20 and its 200-day moving average price is $11.43. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $27.36. The stock has a market cap of $369.13 million, a price-to-earnings ratio of -1,074.00 and a beta of 1.67. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 0.26.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The Shyft Group had a net margin of 0.01% and a return on equity of 2.76%. The company had revenue of $202.33 million for the quarter, compared to analysts' expectations of $205.40 million. Sell-side analysts expect that The Shyft Group, Inc. will post 0.28 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, February 15th. The Shyft Group's dividend payout ratio (DPR) is -2,000.00%.

About The Shyft Group

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.