First Eagle Investment Management LLC Buys 6,500 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

First Eagle Investment Management LLC increased its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,116 shares of the company’s stock after purchasing an additional 6,500 shares during the period. First Eagle Investment Management LLC owned 1.39% of The Shyft Group worth $5,694,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of The Shyft Group by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company’s stock worth $379,000 after acquiring an additional 1,231 shares during the last quarter. Quest Partners LLC raised its holdings in The Shyft Group by 21.2% during the 2nd quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock worth $120,000 after purchasing an additional 1,768 shares during the last quarter. nVerses Capital LLC acquired a new position in The Shyft Group during the 2nd quarter valued at about $26,000. Motco bought a new position in shares of The Shyft Group in the 1st quarter valued at about $39,000. Finally, CWM LLC grew its position 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 buying an additional 3,420 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

The Shyft Group Trading Down 3.7 %

NASDAQ SHYF opened at $12.66 on Friday. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $17.56. The stock has a 50-day simple moving average of $13.32 and a 200 day simple moving average of $12.29. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $436.26 million, a PE ratio of -1,266.00 and a beta of 1.65.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The company had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $201.49 million. During the same period in the prior year, the business posted $0.22 EPS. The Shyft Group’s revenue was down 14.3% on a year-over-year basis. Research analysts forecast that The Shyft Group, Inc. will post 0.29 EPS for the current year.

The Shyft Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $0.05 per share. The ex-dividend date was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. The Shyft Group’s dividend payout ratio is -2,000.00%.

Analyst Ratings Changes

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and increased their price objective for the company 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.