PNC Financial Services Group Inc. lessened its stake in The Shyft Group, Inc. (NASDAQ:SHYF – Free Report) by 10.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 333,185 shares of the company’s stock after selling 40,944 shares during the period. PNC Financial Services Group Inc.’s holdings in The Shyft Group were worth $3,912,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of The Shyft Group by 301.4% in the third quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after purchasing an additional 5,801 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The Shyft Group in the 4th quarter worth $209,000. SG Americas Securities LLC increased its stake in shares of The Shyft Group by 24.3% in the 4th quarter. SG Americas Securities LLC now owns 18,274 shares of the company’s stock worth $215,000 after acquiring an additional 3,575 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of The Shyft Group by 1,062.8% in 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 last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in The Shyft Group during the third quarter worth about $241,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
The Shyft Group Price Performance
SHYF stock opened at $8.83 on Friday. The business has a fifty day moving average of $11.19 and a two-hundred day moving average of $12.29. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $308.45 million, a price-to-earnings ratio of -98.10 and a beta of 1.69. The Shyft Group, Inc. has a 52-week low of $8.27 and a 52-week high of $17.56.
The Shyft Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, February 27th. The Shyft Group’s dividend payout ratio is presently -222.22%.
Analyst Upgrades and Downgrades
SHYF has been the subject of several recent analyst reports. DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, January 15th. Roth Mkm restated a “buy” rating and set a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.
View Our Latest Research Report on The Shyft Group
The Shyft Group Company 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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