The Shyft Group, Inc. (NASDAQ:SHYF) Holdings Cut by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,054,738 shares of the company's stock after selling 44,884 shares during the period. Pzena Investment Management LLC owned about 8.86% of The Shyft Group worth $35,863,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SHYF. Royce & Associates LP boosted its stake in The Shyft Group by 2.7% during the 3rd quarter. Royce & Associates LP now owns 953,018 shares of the company's stock valued at $11,960,000 after purchasing an additional 24,770 shares during the period. Geode Capital Management LLC boosted its stake in The Shyft Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 773,150 shares of the company's stock valued at $9,705,000 after purchasing an additional 9,588 shares during the period. State Street Corp boosted its stake in The Shyft Group by 0.8% during the 3rd 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 period. Jacobs Levy Equity Management Inc. boosted its stake in The Shyft Group by 16.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company's stock valued at $7,081,000 after purchasing an additional 78,550 shares during the period. Finally, Centaurus Financial Inc. boosted its stake in The Shyft Group by 0.6% during the 3rd quarter. Centaurus Financial Inc. now owns 433,056 shares of the company's stock valued at $5,435,000 after purchasing an additional 2,433 shares during the period. 85.84% of the stock is owned by institutional investors and hedge funds.

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The Shyft Group Price Performance

Shares of The Shyft Group stock traded up $0.36 on Friday, hitting $9.19. The company had a trading volume of 278,495 shares, compared to its average volume of 227,800. The business has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $12.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The company has a market cap of $321.03 million, a PE ratio of -102.10 and a beta of 1.69. The Shyft Group, Inc. has a 52 week low of $8.27 and a 52 week high of $17.56.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.05 EPS 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 business had revenue of $201.43 million for the quarter, compared to analyst estimates of $211.90 million. Research analysts expect that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, February 27th. The Shyft Group's dividend payout ratio is presently -222.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SHYF shares. Roth Mkm reaffirmed a "buy" rating and issued a $16.00 price target on shares of The Shyft Group in a research note 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 price objective for the company in a report on Wednesday, January 15th.

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.