Connors Investor Services Inc. Lowers Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Connors Investor Services Inc. trimmed its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 235,283 shares of the company’s stock after selling 5,889 shares during the quarter. Connors Investor Services Inc. owned about 0.68% of The Shyft Group worth $2,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of The Shyft Group by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company’s stock worth $379,000 after purchasing an additional 1,231 shares in the last quarter. Quest Partners LLC raised its position in The Shyft Group by 21.2% in the 2nd quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock worth $120,000 after buying an additional 1,768 shares during the last quarter. nVerses Capital LLC purchased a new position in The Shyft Group in the 2nd quarter worth about $26,000. Motco bought a new position in The Shyft Group during the 1st quarter valued at about $39,000. Finally, CWM LLC boosted its holdings in shares of The Shyft Group by 260.9% during the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after acquiring an additional 3,420 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors.

The Shyft Group Trading Up 0.5 %

Shares of NASDAQ:SHYF opened at $12.81 on Tuesday. The stock’s 50-day simple moving average is $13.11 and its two-hundred day simple moving average is $12.25. The stock has a market capitalization of $441.43 million, a price-to-earnings ratio of -1,281.00 and a beta of 1.65. 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 0.26, a quick ratio of 1.19 and a current ratio of 1.86.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company had revenue of $192.80 million for the quarter, compared to the consensus estimate of $201.49 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. Analysts expect that The Shyft Group, Inc. will post 0.29 EPS for the current year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 dividend on an annualized basis and a yield of 1.56%. The Shyft Group’s dividend payout ratio is currently -2,000.00%.

Wall Street Analyst Weigh In

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

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.