Bank of New York Mellon Corp Has $3.80 Million Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Bank of New York Mellon Corp lifted its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 320,479 shares of the company’s stock after buying an additional 16,953 shares during the quarter. Bank of New York Mellon Corp owned about 0.93% of The Shyft Group worth $3,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Motco bought a new position in The Shyft Group during the first quarter worth $39,000. CWM LLC boosted 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 purchasing an additional 3,420 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of The Shyft Group in the 1st quarter valued at about $176,000. Bluefin Capital Management LLC bought a new stake in The Shyft Group in the 1st quarter valued at about $204,000. Finally, SG Americas Securities LLC raised its stake in The Shyft Group by 95.0% during the 2nd quarter. SG Americas Securities LLC now owns 17,948 shares of the company’s stock worth $213,000 after buying an additional 8,742 shares during the period. Institutional investors own 85.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $18.00 in a research note on Monday, July 29th.

The Shyft Group Stock Performance

SHYF opened at $12.75 on Friday. The Shyft Group, Inc. has a 1-year low of $9.81 and a 1-year high of $17.56. The company has a market cap of $438.27 million, a price-to-earnings ratio of -1,275.00 and a beta of 1.65. The company’s fifty day moving average price is $13.07 and its two-hundred day moving average price is $12.21. 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 Shyft Group (NASDAQ:SHYF) last posted its earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, analysts expect that The Shyft Group, Inc. will post 0.29 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.57%. The Shyft Group’s dividend payout ratio is presently -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.