The Shyft Group, Inc. (NASDAQ:SHYF) Position Increased by State Street Corp

State Street Corp raised its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,780 shares of the company’s stock after purchasing an additional 5,682 shares during the quarter. State Street Corp’s holdings in The Shyft Group were worth $8,870,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in The Shyft Group in the second quarter valued at approximately $26,000. Point72 Asset Management L.P. acquired a new stake in shares of The Shyft Group in the 2nd quarter valued at $59,000. Point72 DIFC Ltd bought a new stake in The Shyft Group in the second quarter worth $60,000. National Bank of Canada FI increased its position in The Shyft Group by 6,784.7% during the second quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock worth $65,000 after buying an additional 5,767 shares during the last quarter. Finally, FMR LLC raised its holdings in The Shyft Group by 301.4% during the third quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after buying an additional 5,801 shares in the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.

The Shyft Group Stock Up 2.0 %

SHYF stock opened at $11.92 on Friday. The stock has a market capitalization of $411.17 million, a price-to-earnings ratio of -99.33 and a beta of 1.63. The company has a 50-day moving average of $13.16 and a two-hundred day moving average of $12.82. The Shyft Group, Inc. has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, November 15th. The Shyft Group’s payout ratio is currently -166.67%.

Wall Street Analyst Weigh In

SHYF has been the topic of a number of recent analyst reports. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a research note on Tuesday, December 17th. DA Davidson reissued a “neutral” rating and issued a $15.00 price target (down previously from $18.00) on shares of The Shyft Group in a research report on Tuesday, December 17th.

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.