Prudential Financial Inc. Increases Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Prudential Financial Inc. increased its holdings in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,274 shares of the company's stock after acquiring an additional 55,500 shares during the quarter. Prudential Financial Inc. owned about 1.02% of The Shyft Group worth $4,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in The Shyft Group in the fourth quarter worth about $48,000. FMR LLC grew its stake in shares of 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of The Shyft Group in the 4th quarter worth approximately $209,000. SG Americas Securities LLC increased its position in The Shyft Group by 24.3% during the 4th quarter. SG Americas Securities LLC now owns 18,274 shares of the company's stock valued at $215,000 after buying an additional 3,575 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in The Shyft Group by 1,062.8% during the third quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company's stock valued at $232,000 after buying an additional 16,888 shares during the last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHYF has been the subject of several analyst reports. DA Davidson upgraded The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a report on Wednesday, January 15th. Roth Mkm reissued a "buy" rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th.

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The Shyft Group Stock Down 4.8 %

NASDAQ SHYF traded down $0.40 during mid-day trading on Thursday, reaching $7.85. The stock had a trading volume of 415,398 shares, compared to its average volume of 288,119. The stock has a market cap of $274.22 million, a PE ratio of -87.21 and a beta of 1.69. The Shyft Group, Inc. has a 1 year low of $7.16 and a 1 year high of $17.56. 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 fifty day moving average price of $10.46 and a 200 day moving average price of $11.87.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $201.43 million during the quarter, compared to analysts' expectations of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. On average, research analysts expect that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, February 27th. The Shyft Group's dividend payout ratio is currently -222.22%.

About The Shyft Group

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.