Quest Partners LLC Buys 1,768 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Quest Partners LLC boosted its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,098 shares of the company’s stock after acquiring an additional 1,768 shares during the quarter. Quest Partners LLC’s holdings in The Shyft Group were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Shyft Group by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company’s stock valued at $379,000 after purchasing an additional 1,231 shares in the last quarter. nVerses Capital LLC bought a new stake in The Shyft Group in the 2nd quarter valued at approximately $26,000. Motco acquired a new position in The Shyft Group during the 1st quarter worth approximately $39,000. CWM LLC grew its stake in shares of The Shyft Group by 260.9% during the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after acquiring an additional 3,420 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of The Shyft Group by 8.8% in the first quarter. Russell Investments Group Ltd. now owns 53,304 shares of the company’s stock valued at $662,000 after purchasing an additional 4,308 shares during the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.

The Shyft Group Stock Performance

SHYF opened at $12.81 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86. The business’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $12.25. The firm has a market capitalization of $441.43 million, a PE ratio of -1,281.00 and a beta of 1.65. The Shyft Group, Inc. has a 52-week low of $9.81 and a 52-week high of $17.56.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The business’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, sell-side analysts expect that The Shyft Group, Inc. will post 0.29 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, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.56%. The Shyft Group’s dividend payout ratio is presently -2,000.00%.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.00 to $18.00 in a report on Monday, July 29th.

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.