Foundry Partners LLC Has $2.02 Million Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Foundry Partners LLC reduced its holdings in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,410 shares of the company's stock after selling 150,345 shares during the period. Foundry Partners LLC owned about 0.50% of The Shyft Group worth $2,024,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position 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 buying an additional 5,801 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of The Shyft Group by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company's stock worth $7,081,000 after acquiring an additional 78,550 shares in the last quarter. State Street Corp boosted its position in The Shyft Group by 0.8% during the third quarter. State Street Corp now owns 706,780 shares of the company's stock valued at $8,870,000 after purchasing an additional 5,682 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in The Shyft Group by 1,062.8% in the third quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company's stock valued at $232,000 after purchasing an additional 16,888 shares in the last quarter. Finally, Barclays PLC increased its position in The Shyft Group by 257.9% in the 3rd quarter. Barclays PLC now owns 45,666 shares of the company's stock worth $573,000 after purchasing an additional 32,906 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHYF. Roth Mkm reiterated 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 upgraded shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Wednesday, January 15th.

The Shyft Group Stock Down 8.9 %

The Shyft Group stock traded down $0.79 during mid-day trading on Thursday, hitting $8.04. 96,746 shares of the company's stock were exchanged, compared to its average volume of 293,264. The Shyft Group, Inc. has a 1-year low of $7.14 and a 1-year high of $17.56. The stock has a 50 day moving average of $9.90 and a two-hundred day moving average of $11.65. 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 stock has a market cap of $280.68 million, a P/E ratio of -89.28 and a beta of 1.83.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. The business had revenue of $201.43 million for the quarter, compared to analyst estimates of $211.90 million. As a group, analysts anticipate that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, February 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, February 27th. The Shyft Group's dividend payout ratio is presently -222.22%.

The Shyft Group 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.