The Shyft Group, Inc. (NASDAQ:SHYF) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in The Shyft Group, Inc. (NASDAQ:SHYF) by 49.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,601 shares of the company’s stock after acquiring an additional 58,816 shares during the quarter. JPMorgan Chase & Co. owned about 0.51% of The Shyft Group worth $2,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Centaurus Financial Inc. raised its position in The Shyft Group by 0.6% in the third quarter. Centaurus Financial Inc. now owns 433,056 shares of the company’s stock worth $5,435,000 after acquiring an additional 2,433 shares in the last quarter. Foundry Partners LLC raised its position in The Shyft Group by 1.0% in the third quarter. Foundry Partners LLC now owns 322,755 shares of the company’s stock worth $4,051,000 after acquiring an additional 3,115 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in The Shyft Group in the second quarter worth about $59,000. Point72 DIFC Ltd acquired a new stake in The Shyft Group during the 2nd quarter worth about $60,000. Finally, State Street Corp raised its holdings in The Shyft Group by 0.8% during the 3rd quarter. State Street Corp now owns 706,780 shares of the company’s stock worth $8,870,000 after buying an additional 5,682 shares during the period. 85.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SHYF shares. Roth Mkm restated a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a report on Tuesday, December 17th. DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, January 15th.

The Shyft Group Price Performance

Shares of NASDAQ:SHYF opened at $12.59 on Wednesday. The business has a fifty day simple moving average of $12.58 and a 200 day simple moving average of $12.78. 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 Shyft Group, Inc. has a 1 year low of $9.81 and a 1 year high of $17.56. The firm has a market cap of $434.23 million, a price-to-earnings ratio of -104.92 and a beta of 1.66.

The Shyft Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.59%. The Shyft Group’s dividend payout ratio is -166.67%.

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.