The Shyft Group, Inc. (NASDAQ:SHYF) Shares Acquired by State Street Corp

State Street Corp boosted its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706,780 shares of the company’s stock after buying an additional 5,682 shares during the period. State Street Corp owned 2.05% of The Shyft Group worth $8,870,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of The Shyft Group in the second quarter valued at approximately $26,000. Point72 Asset Management L.P. acquired a new stake in The Shyft Group in the second quarter worth approximately $59,000. Point72 DIFC Ltd bought a new position in The Shyft Group during the 2nd quarter valued at $60,000. National Bank of Canada FI boosted its stake in The Shyft Group by 6,784.7% during the 2nd quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 5,767 shares in the last quarter. Finally, FMR LLC increased its position in shares of The Shyft Group by 301.4% during the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after purchasing an additional 5,801 shares during the period. 85.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SHYF shares. DA Davidson restated a “neutral” rating and issued a $15.00 price objective (down previously from $18.00) on shares of The Shyft Group in a report on Tuesday, December 17th. Roth Mkm reissued a “buy” rating and issued a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.

The Shyft Group Trading Up 2.0 %

Shares of NASDAQ:SHYF opened at $11.92 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The stock has a market capitalization of $411.17 million, a price-to-earnings ratio of -99.33 and a beta of 1.63. The Shyft Group, Inc. has a 1-year low of $9.81 and a 1-year high of $17.56. The company has a 50 day moving average price of $13.16 and a 200 day moving average price of $12.82.

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, November 15th. The Shyft Group’s dividend payout ratio is presently -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.