Norges Bank Acquires Shares of 39,500 The Shyft Group, Inc. (NASDAQ:SHYF)

Norges Bank purchased a new stake in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 39,500 shares of the company's stock, valued at approximately $464,000. Norges Bank owned 0.11% of The Shyft Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ausdal Financial Partners Inc. bought a new position in shares of The Shyft Group during the fourth quarter worth $8,789,000. Royce & Associates LP increased its holdings in shares of The Shyft Group by 21.4% in the fourth quarter. Royce & Associates LP now owns 1,156,776 shares of the company's stock worth $13,581,000 after acquiring an additional 203,758 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of The Shyft Group by 54.5% during the 4th quarter. JPMorgan Chase & Co. now owns 272,778 shares of the company's stock valued at $3,202,000 after purchasing an additional 96,177 shares in the last quarter. Kirr Marbach & Co. LLC IN grew its position 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 valued at $3,533,000 after purchasing an additional 73,773 shares during the period. Finally, Prudential Financial Inc. raised its holdings in The Shyft Group by 18.8% during the 4th quarter. Prudential Financial Inc. now owns 350,274 shares of the company's stock worth $4,112,000 after buying an additional 55,500 shares during the period. Institutional investors own 85.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson upgraded shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Wednesday, January 15th. Roth Mkm restated a "buy" rating and issued a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.

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The Shyft Group Stock Down 2.6 %

SHYF traded down $0.20 during trading hours on Tuesday, hitting $7.53. 327,273 shares of the company's stock were exchanged, compared to its average volume of 293,989. The stock has a market cap of $263.04 million, a price-to-earnings ratio of -83.66 and a beta of 1.83. The Shyft Group, Inc. has a 1-year low of $7.14 and a 1-year high of $17.56. The stock's 50-day moving average is $9.67 and its two-hundred day moving average is $11.55. 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 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 for the quarter, missing the consensus estimate of $0.14 by ($0.09). The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. The company had revenue of $201.43 million during the quarter, compared to the consensus estimate of $211.90 million. Sell-side analysts predict that The Shyft Group, Inc. will post 0.68 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, February 27th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.66%. The Shyft Group's payout ratio is -222.22%.

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.