Charles Schwab Investment Management Inc. Sells 85,992 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Charles Schwab Investment Management Inc. lessened its holdings in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,813 shares of the company's stock after selling 85,992 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.29% of The Shyft Group worth $5,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHYF. Federated Hermes Inc. grew its stake in The Shyft Group by 15.6% in the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company's stock valued at $7,907,000 after acquiring an additional 89,951 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of The Shyft Group during the 3rd quarter valued at $2,292,000. Foundry Partners LLC boosted its position in shares of The Shyft Group by 31.9% in the second quarter. Foundry Partners LLC now owns 319,640 shares of the company's stock worth $3,791,000 after buying an additional 77,225 shares during the period. CWM LLC boosted its holdings in The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company's stock worth $56,000 after acquiring an additional 3,420 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in The Shyft Group by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company's stock valued at $379,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company's stock.

The Shyft Group Stock Down 1.0 %

SHYF stock traded down $0.13 during mid-day trading on Friday, hitting $12.72. 123,480 shares of the company were exchanged, compared to its average volume of 292,907. The company has a market capitalization of $438.76 million, a PE ratio of -106.00 and a beta of 1.63. The Shyft Group, Inc. has a twelve month low of $9.81 and a twelve month high of $17.56. The firm has a fifty day simple moving average of $13.17 and a 200 day simple moving average of $12.86. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.05 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.57%. The Shyft Group's payout ratio is currently -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.