Jacobs Levy Equity Management Inc. Buys 78,550 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Jacobs Levy Equity Management Inc. raised its holdings in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 564,242 shares of the company's stock after buying an additional 78,550 shares during the period. Jacobs Levy Equity Management Inc. owned 1.64% of The Shyft Group worth $7,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHYF. Pzena Investment Management LLC increased its stake in The Shyft Group by 889.8% in the 2nd quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company's stock valued at $38,472,000 after buying an additional 2,916,101 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in The Shyft Group in the 3rd quarter valued at $2,292,000. Federated Hermes Inc. increased 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 buying an additional 89,951 shares during the last quarter. Foundry Partners LLC increased its stake in The Shyft Group by 31.9% in the 2nd quarter. Foundry Partners LLC now owns 319,640 shares of the company's stock valued at $3,791,000 after buying an additional 77,225 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in The Shyft Group in the 2nd quarter valued at $790,000. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Stock Performance

Shares of The Shyft Group stock traded down $0.29 during trading on Friday, hitting $12.89. 89,751 shares of the stock were exchanged, compared to its average volume of 295,055. The stock has a market capitalization of $444.63 million, a price-to-earnings ratio of -107.75 and a beta of 1.63. The company has a fifty day moving average price of $13.10 and a 200-day moving average price of $12.85. The Shyft Group, Inc. has a 1-year low of $9.81 and a 1-year 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The Shyft Group's dividend payout ratio is presently -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.