Point72 DIFC Ltd bought a new stake in The Shyft Group, Inc. (NASDAQ:SHYF – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,062 shares of the company’s stock, valued at approximately $60,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its stake in shares of The Shyft Group by 889.8% in the 2nd quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company’s stock valued at $38,472,000 after purchasing an additional 2,916,101 shares during the last quarter. Vanguard Group Inc. boosted its position in The Shyft Group by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,792,014 shares of the company’s stock valued at $22,257,000 after acquiring an additional 17,113 shares during the last quarter. Federated Hermes Inc. boosted its position in The Shyft Group by 15.6% during the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after acquiring an additional 89,951 shares during the last quarter. Orchard Capital Management LLC grew its holdings in The Shyft Group by 5.5% during the 4th quarter. Orchard Capital Management LLC now owns 548,643 shares of the company’s stock worth $6,704,000 after acquiring an additional 28,664 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of The Shyft Group by 101.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after acquiring an additional 270,284 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.
The Shyft Group Stock Performance
NASDAQ:SHYF opened at $12.60 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.26. The Shyft Group, Inc. has a twelve month low of $9.81 and a twelve month high of $17.56. The company has a fifty day moving average of $13.40 and a 200-day moving average of $12.38. The firm has a market capitalization of $433.11 million, a P/E ratio of -1,260.00 and a beta of 1.65.
The Shyft Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 annualized dividend and a yield of 1.59%. The Shyft Group’s payout ratio is currently -2,000.00%.
Wall Street Analyst Weigh In
Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $12.00 to $18.00 in a research report on Monday, July 29th.
Read Our Latest Stock Analysis on SHYF
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.
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