The Shyft Group, Inc. (NASDAQ:SHYF) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,987 shares of the company’s stock after acquiring an additional 7,050 shares during the period. Rhumbline Advisers owned approximately 0.16% of The Shyft Group worth $640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Hawaiian Bank purchased a new stake in shares of The Shyft Group during the second quarter valued at approximately $542,000. Charles Schwab Investment Management Inc. raised its position in shares of The Shyft Group by 15.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock worth $6,284,000 after buying an additional 69,264 shares in the last quarter. Acadian Asset Management LLC boosted its stake in The Shyft Group by 36.1% during the 1st quarter. Acadian Asset Management LLC now owns 322,654 shares of the company’s stock valued at $4,005,000 after purchasing an additional 85,594 shares in the last quarter. PNC Financial Services Group Inc. raised its position in The Shyft Group by 101.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after acquiring an additional 270,284 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in The Shyft Group in the first quarter worth approximately $4,070,000. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Stock Up 2.9 %

SHYF opened at $12.98 on Wednesday. The business has a 50-day moving average of $13.35 and a 200-day moving average of $12.33. The Shyft Group, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $17.56. The company has a market capitalization of $446.17 million, a PE ratio of -1,298.00 and a beta of 1.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19.

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

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a $0.05 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.54%. The Shyft Group’s payout ratio is -2,000.00%.

Analyst Upgrades and Downgrades

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price target 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.