Heartland Advisors Inc. Reduces Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Heartland Advisors Inc. trimmed its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 33.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,000 shares of the company's stock after selling 100,000 shares during the period. Heartland Advisors Inc. owned approximately 0.58% of The Shyft Group worth $2,444,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SHYF. Janney Montgomery Scott LLC acquired a new position in shares of The Shyft Group during the fourth quarter worth approximately $477,000. Charles Schwab Investment Management Inc. raised its holdings in shares of The Shyft Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company's stock worth $6,284,000 after acquiring an additional 69,264 shares during the last quarter. Russell Investments Group Ltd. lifted its position in The Shyft Group by 26.9% in the 4th quarter. Russell Investments Group Ltd. now owns 48,996 shares of the company's stock valued at $599,000 after acquiring an additional 10,397 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in The Shyft Group by 103.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 200,672 shares of the company's stock worth $2,452,000 after purchasing an additional 102,128 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of The Shyft Group in the fourth quarter worth approximately $1,236,000. Institutional investors and hedge funds own 85.84% of the company's stock.

The Shyft Group Stock Performance

SHYF stock traded up $0.15 during midday trading on Friday, hitting $12.58. The company's stock had a trading volume of 219,696 shares, compared to its average volume of 275,983. The stock has a market cap of $432.37 million, a price-to-earnings ratio of -1,258.00 and a beta of 1.69. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $11.63 and its 200 day moving average price is $11.44. The Shyft Group, Inc. has a 1 year low of $9.81 and a 1 year high of $27.36.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.15. The Shyft Group had a net margin of 0.01% and a return on equity of 2.76%. The business had revenue of $197.89 million for the quarter, compared to analyst estimates of $183.90 million. On average, equities analysts forecast that The Shyft Group, Inc. will post 0.26 EPS for the current year.

The Shyft Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.59%. The Shyft Group's dividend payout ratio is presently -2,000.00%.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on The Shyft Group from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 27th.

Insider Transactions at The Shyft Group

In other The Shyft Group news, CEO John Albert Dunn acquired 4,545 shares of the company's stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $11.00 per share, with a total value of $49,995.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,894 shares in the company, valued at $394,834. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.54% of the stock is owned by corporate insiders.

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.