Voya Investment Management LLC Decreases Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Voya Investment Management LLC lessened its stake in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,128 shares of the company's stock after selling 105,731 shares during the quarter. Voya Investment Management LLC owned about 0.63% of The Shyft Group worth $2,549,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SHYF. T. Rowe Price Investment Management Inc. grew its stake in The Shyft Group by 60.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,240,017 shares of the company's stock valued at $38,038,000 after buying an additional 1,216,701 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of The Shyft Group during the 4th quarter valued at about $8,789,000. Royce & Associates LP boosted its stake in The Shyft Group by 21.4% in the 4th quarter. Royce & Associates LP now owns 1,156,776 shares of the company's stock worth $13,581,000 after purchasing an additional 203,758 shares during the period. JPMorgan Chase & Co. increased its position in The Shyft Group by 54.5% in the fourth quarter. JPMorgan Chase & Co. now owns 272,778 shares of the company's stock worth $3,202,000 after purchasing an additional 96,177 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN increased its stake in The Shyft Group by 32.5% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 300,901 shares of the company's stock worth $3,533,000 after purchasing an additional 73,773 shares during the period. 85.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

The Shyft Group Stock Performance

The Shyft Group stock traded up $0.35 during midday trading on Thursday, reaching $9.09. 29,632 shares of the stock traded hands, compared to its average volume of 289,849. The Shyft Group, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $17.56. 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 firm has a market cap of $318.20 million, a price-to-earnings ratio of -100.99 and a beta of 1.93. The firm has a fifty day moving average price of $8.52 and a two-hundred day moving average price of $11.09.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.09). The company had revenue of $201.43 million for the quarter, compared to the consensus estimate 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, equities research analysts forecast that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, May 16th. The Shyft Group's payout ratio is 2,000.00%.

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.