Centaurus Financial Inc. Decreases Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Centaurus Financial Inc. lowered its holdings in The Shyft Group, Inc. (NASDAQ:SHYF) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 430,623 shares of the company’s stock after selling 15,836 shares during the period. Centaurus Financial Inc.’s holdings in The Shyft Group were worth $5,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHYF. Pzena Investment Management LLC lifted its position in The Shyft Group by 889.8% in the second quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company’s stock valued at $38,472,000 after acquiring an additional 2,916,101 shares during the last quarter. Vanguard Group Inc. lifted its stake in The Shyft Group by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,792,014 shares of the company’s stock valued at $22,257,000 after buying an additional 17,113 shares during the last quarter. Federated Hermes Inc. grew its position in shares of The Shyft Group by 15.6% during the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock worth $7,907,000 after acquiring an additional 89,951 shares during the last quarter. Orchard Capital Management LLC increased its holdings in shares of The Shyft Group by 5.5% in the 4th quarter. Orchard Capital Management LLC now owns 548,643 shares of the company’s stock valued at $6,704,000 after acquiring an additional 28,664 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in 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 valued at $6,544,000 after purchasing an additional 270,284 shares during the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

The Shyft Group Stock Up 0.2 %

SHYF opened at $12.46 on Thursday. The business has a 50 day moving average price of $13.43 and a two-hundred day moving average price of $12.41. The Shyft Group, Inc. has a 52 week low of $9.81 and a 52 week high of $17.56. The company has a market cap of $428.30 million, a PE ratio of -1,246.00 and a beta of 1.65. 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 (NASDAQ:SHYF) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. As a group, research analysts anticipate that The Shyft Group, Inc. will post 0.29 EPS for the current year.

The Shyft Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%. The Shyft Group’s dividend payout ratio (DPR) is -2,000.00%.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $18.00 in a research report on Monday, July 29th.

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.