Geode Capital Management LLC Increases Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Geode Capital Management LLC grew its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,150 shares of the company’s stock after acquiring an additional 9,588 shares during the period. Geode Capital Management LLC owned about 2.24% of The Shyft Group worth $9,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SHYF. nVerses Capital LLC purchased a new position in The Shyft Group during the second quarter valued at $26,000. Point72 Asset Management L.P. purchased a new position in shares of The Shyft Group during the 2nd quarter valued at about $59,000. Point72 DIFC Ltd bought a new position in shares of The Shyft Group during the 2nd quarter valued at approximately $60,000. National Bank of Canada FI grew its stake in shares of 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 acquiring an additional 5,767 shares during the period. Finally, FMR LLC increased its holdings in The Shyft Group by 301.4% in the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock worth $97,000 after acquiring an additional 5,801 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

The Shyft Group Stock Performance

NASDAQ:SHYF opened at $11.74 on Thursday. The stock has a 50-day moving average price of $13.12 and a 200 day moving average price of $12.80. The stock has a market capitalization of $404.96 million, a P/E ratio of -97.83 and a beta of 1.63. The Shyft Group, Inc. has a 12-month low of $9.81 and a 12-month high of $17.56. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, November 15th. The Shyft Group’s dividend payout ratio (DPR) is currently -166.67%.

The Shyft Group Company 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.