Essex Investment Management Co. LLC Decreases Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Essex Investment Management Co. LLC lowered its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 159,721 shares of the company’s stock after selling 22,873 shares during the quarter. Essex Investment Management Co. LLC’s holdings in The Shyft Group were worth $1,875,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in The Shyft Group by 301.4% during the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $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 fourth quarter valued at $209,000. SG Americas Securities LLC increased its stake in The Shyft Group by 24.3% in the fourth quarter. SG Americas Securities LLC now owns 18,274 shares of the company’s stock valued at $215,000 after purchasing an additional 3,575 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of The Shyft Group by 1,062.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company’s stock worth $232,000 after acquiring an additional 16,888 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of The Shyft Group during the 3rd quarter worth about $241,000. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SHYF. DA Davidson upgraded 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. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research note on Tuesday, December 17th.

The Shyft Group Stock Up 0.6 %

Shares of NASDAQ:SHYF opened at $9.36 on Monday. The firm has a market cap of $326.96 million, a PE ratio of -103.99 and a beta of 1.69. The company has a fifty day simple moving average of $11.40 and a 200 day simple moving average of $12.41. 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 $8.50 and a 12-month high of $17.56.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (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 firm had revenue of $201.43 million for the quarter, compared to analyst estimates of $211.90 million. On average, equities research analysts anticipate that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, February 27th. The Shyft Group’s dividend payout ratio (DPR) is -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.