Los Angeles Capital Management LLC Acquires Shares of 19,215 The Shyft Group, Inc. (NASDAQ:SHYF)

Los Angeles Capital Management LLC bought a new position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,215 shares of the company’s stock, valued at approximately $241,000. Los Angeles Capital Management LLC owned approximately 0.06% of The Shyft Group as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Pzena Investment Management LLC grew its holdings 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 purchasing an additional 2,916,101 shares during the period. Vanguard Group Inc. grew its stake in The Shyft Group by 1.0% in the 1st 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 period. Federated Hermes Inc. increased its holdings in The Shyft Group by 15.6% in the 2nd 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 in the last quarter. First Eagle Investment Management LLC lifted its holdings in The Shyft Group by 1.4% during the second quarter. First Eagle Investment Management LLC now owns 480,116 shares of the company’s stock valued at $5,694,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of The Shyft Group by 40.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 437,653 shares of the company’s stock valued at $5,436,000 after purchasing an additional 126,832 shares during the period. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

The Shyft Group Stock Down 2.0 %

NASDAQ SHYF opened at $13.64 on Tuesday. The Shyft Group, Inc. has a one year low of $9.81 and a one year high of $17.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The business has a fifty day moving average price of $12.82 and a 200 day moving average price of $12.74. The company has a market cap of $470.50 million, a P/E ratio of -113.67 and a beta of 1.63.

The Shyft Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, November 15th. The Shyft Group’s dividend payout ratio is currently -166.67%.

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.