The Shyft Group, Inc. (NASDAQ:SHYF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,757 shares of the company's stock after selling 50,422 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of The Shyft Group worth $2,768,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SHYF. Centaurus Financial Inc. increased its stake in The Shyft Group by 0.6% in the 3rd quarter. Centaurus Financial Inc. now owns 433,056 shares of the company's stock valued at $5,435,000 after buying an additional 2,433 shares during the period. Foundry Partners LLC boosted its holdings in shares of The Shyft Group by 1.0% in the third quarter. Foundry Partners LLC now owns 322,755 shares of the company's stock valued at $4,051,000 after acquiring an additional 3,115 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of The Shyft Group by 24.3% during the fourth quarter. SG Americas Securities LLC now owns 18,274 shares of the company's stock worth $215,000 after acquiring an additional 3,575 shares during the period. State Street Corp raised its holdings in The Shyft Group by 0.8% during the third quarter. State Street Corp now owns 706,780 shares of the company's stock worth $8,870,000 after purchasing an additional 5,682 shares in the last quarter. Finally, FMR LLC lifted its position in The Shyft Group by 301.4% in the third 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. Hedge funds and other institutional investors own 85.84% of the company's stock.

Remove Ads

The Shyft Group Trading Up 4.2 %

SHYF traded up $0.38 on Monday, reaching $9.35. 139,935 shares of the company's stock were exchanged, compared to its average volume of 277,700. 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 company has a market cap of $326.61 million, a price-to-earnings ratio of -103.88 and a beta of 1.69. The company's 50 day moving average is $10.98 and its 200-day moving average is $12.08. The Shyft Group, Inc. has a twelve month low of $8.27 and a twelve month high of $17.56.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The company had revenue of $201.43 million during the quarter, compared to the consensus estimate of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. Equities analysts predict that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.14%. The Shyft Group's dividend payout ratio is currently -222.22%.

Analyst Ratings Changes

Several brokerages have commented on SHYF. DA Davidson upgraded shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Wednesday, January 15th. Roth Mkm reissued a "buy" rating and set a $16.00 price target on shares of The Shyft Group in a research report on Tuesday, December 17th.

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.