The Shyft Group, Inc. (NASDAQ:SHYF) Stock Holdings Lessened by Orchard Capital Management LLC

Orchard Capital Management LLC cut its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 548,643 shares of the company’s stock after selling 7,349 shares during the quarter. The Shyft Group comprises 2.0% of Orchard Capital Management LLC’s holdings, making the stock its 27th biggest position. Orchard Capital Management LLC owned approximately 1.60% of The Shyft Group worth $6,507,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank bought a new stake in The Shyft Group in the 2nd quarter valued at about $542,000. Charles Schwab Investment Management Inc. lifted its position in The Shyft Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock valued at $6,284,000 after purchasing an additional 69,264 shares during the last quarter. Acadian Asset Management LLC lifted its position in The Shyft Group by 36.1% in 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 during the last quarter. PNC Financial Services Group Inc. lifted its position in The Shyft Group by 101.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock valued at $6,544,000 after purchasing an additional 270,284 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in The Shyft Group in the 1st quarter valued at about $4,070,000. 85.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

The Shyft Group Stock Up 1.5 %

The Shyft Group stock opened at $13.14 on Friday. The stock has a market cap of $452.80 million, a price-to-earnings ratio of -1,314.00 and a beta of 1.65. 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’s 50-day moving average price is $13.28 and its two-hundred day moving average price is $12.27. 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 released its earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The firm had revenue of $192.80 million for 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 Shyft Group’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. 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 was paid on Monday, September 16th. Shareholders 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 yield of 1.52%. The Shyft Group’s payout ratio is -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.