First Eagle Investment Management LLC lessened its position in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 297,349 shares of the company's stock after selling 202,178 shares during the period. First Eagle Investment Management LLC owned approximately 0.86% of The Shyft Group worth $3,491,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Isthmus Partners LLC increased its holdings in shares of The Shyft Group by 0.9% in the 4th quarter. Isthmus Partners LLC now owns 202,463 shares of the company's stock worth $2,377,000 after acquiring an additional 1,899 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of The Shyft Group in the 4th quarter worth about $209,000. Kirr Marbach & Co. LLC IN increased its holdings in shares of The Shyft Group by 32.5% in the 4th quarter. Kirr Marbach & Co. LLC IN now owns 300,901 shares of the company's stock worth $3,533,000 after acquiring an additional 73,773 shares during the period. SG Americas Securities LLC increased its holdings in shares of The Shyft Group by 24.3% in the 4th 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. Finally, JPMorgan Chase & Co. increased its holdings in shares of The Shyft Group by 49.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company's stock worth $2,216,000 after acquiring an additional 58,816 shares during the period. Institutional investors and hedge funds own 85.84% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on SHYF. Roth Mkm reissued a "buy" rating and set a $16.00 target price on shares of The Shyft Group in a research note on Tuesday, December 17th. DA Davidson raised 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 note on Wednesday, January 15th.
Check Out Our Latest Analysis on The Shyft Group
The Shyft Group Price Performance
The Shyft Group stock traded up $0.10 during trading hours on Thursday, hitting $9.49. 258,647 shares of the company traded hands, compared to its average volume of 277,115. The firm has a market cap of $331.50 million, a P/E ratio of -105.43 and a beta of 1.69. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The firm's 50-day simple moving average is $11.03 and its two-hundred day simple moving average is $12.15. The Shyft Group, Inc. has a 1-year low of $8.27 and a 1-year high of $17.56.
The Shyft Group (NASDAQ:SHYF - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.09). The business had revenue of $201.43 million during the quarter, compared to analyst estimates of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. As a group, analysts forecast that The Shyft Group, Inc. will post 0.68 earnings per share for the current fiscal year.
The Shyft Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, February 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.11%. The Shyft Group's dividend payout ratio is currently -222.22%.
About The Shyft Group
(
Free Report)
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.
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