Norges Bank Takes Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Norges Bank bought a new stake in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 39,500 shares of the company's stock, valued at approximately $464,000. Norges Bank owned 0.11% of The Shyft Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of The Shyft Group by 301.4% in the 3rd quarter. FMR LLC now owns 7,726 shares of the company's stock valued at $97,000 after buying an additional 5,801 shares during the period. State Street Corp raised its holdings in The Shyft Group by 0.8% in the third quarter. State Street Corp now owns 706,780 shares of the company's stock valued at $8,870,000 after acquiring an additional 5,682 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in The Shyft Group by 1,062.8% in the third quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company's stock worth $232,000 after acquiring an additional 16,888 shares during the last quarter. Barclays PLC grew its holdings in The Shyft Group by 257.9% during the 3rd quarter. Barclays PLC now owns 45,666 shares of the company's stock worth $573,000 after acquiring an additional 32,906 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 9,588 shares during the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson upgraded shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Wednesday, January 15th.

The Shyft Group Stock Up 0.8 %

Shares of NASDAQ SHYF traded up $0.06 during midday trading on Thursday, hitting $7.41. 33,348 shares of the company's stock were exchanged, compared to its average volume of 293,666. The firm's fifty day simple moving average is $9.50 and its 200-day simple moving average is $11.49. 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 company has a market cap of $258.85 million, a PE ratio of -82.38 and a beta of 1.83. The Shyft Group, Inc. has a twelve month low of $7.05 and a twelve month high of $17.56.

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

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, February 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, February 27th. The Shyft Group's dividend payout ratio (DPR) is currently -222.22%.

The Shyft Group Company 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.