Federated Hermes Inc. boosted its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF – Free Report) by 15.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 666,679 shares of the company’s stock after purchasing an additional 89,951 shares during the quarter. Federated Hermes Inc. owned about 1.94% of The Shyft Group worth $7,907,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SHYF. nVerses Capital LLC bought a new stake in The Shyft Group during the 2nd quarter valued at approximately $26,000. Motco acquired a new position in The Shyft Group in the 1st quarter valued at approximately $39,000. CWM LLC raised its holdings in The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after acquiring an additional 3,420 shares in the last quarter. National Bank of Canada FI raised its holdings in The Shyft Group by 6,784.7% in the 2nd quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after acquiring an additional 5,767 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in The Shyft Group by 21.2% in the 2nd quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock valued at $120,000 after acquiring an additional 1,768 shares in the last quarter. Institutional investors own 85.84% of the company’s stock.
The Shyft Group Trading Up 0.2 %
Shares of SHYF opened at $12.83 on Wednesday. The Shyft Group, Inc. has a 1 year low of $9.81 and a 1 year high of $17.56. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $13.17 and a 200-day simple moving average of $12.26. The stock has a market cap of $442.12 million, a PE ratio of -1,283.00 and a beta of 1.65.
The Shyft Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. The Shyft Group’s payout ratio is presently -2,000.00%.
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $18.00 in a report on Monday, July 29th.
Check Out Our Latest Stock Analysis on SHYF
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.
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