JPMorgan Chase & Co. Grows Position in The Shyft Group, Inc. (NASDAQ:SHYF)

JPMorgan Chase & Co. grew its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 49.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,601 shares of the company's stock after purchasing an additional 58,816 shares during the period. JPMorgan Chase & Co. owned about 0.51% of The Shyft Group worth $2,216,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP lifted its stake in shares of The Shyft Group by 2.7% in the 3rd quarter. Royce & Associates LP now owns 953,018 shares of the company's stock valued at $11,960,000 after acquiring an additional 24,770 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of The Shyft Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 773,150 shares of the company's stock valued at $9,705,000 after acquiring an additional 9,588 shares during the last quarter. State Street Corp lifted its stake in shares of The Shyft Group by 0.8% in the 3rd quarter. State Street Corp now owns 706,780 shares of the company's stock valued at $8,870,000 after acquiring an additional 5,682 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of The Shyft Group by 16.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company's stock valued at $7,081,000 after acquiring an additional 78,550 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its stake in shares of The Shyft Group by 0.6% in the 3rd quarter. Centaurus Financial Inc. now owns 433,056 shares of the company's stock valued at $5,435,000 after acquiring an additional 2,433 shares during the last quarter. Institutional investors own 85.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Roth Mkm reaffirmed a "buy" rating and set a $16.00 price target on shares of The Shyft Group in a research report on Tuesday, December 17th. DA Davidson raised The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a research report on Wednesday, January 15th.

The Shyft Group Stock Down 1.3 %

SHYF traded down $0.16 during trading on Wednesday, hitting $12.43. 152,289 shares of the company's stock traded hands, compared to its average volume of 233,091. The company's 50 day simple moving average is $12.54 and its two-hundred day simple moving average is $12.79. 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, Inc. has a 12-month low of $9.81 and a 12-month high of $17.56. The stock has a market capitalization of $428.71 million, a price-to-earnings ratio of -103.58 and a beta of 1.66.

The Shyft Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.61%. The Shyft Group's payout ratio is -166.67%.

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.