Great West Life Assurance Co. Can decreased its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 29.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,557 shares of the company’s stock after selling 635 shares during the period. Great West Life Assurance Co. Can’s holdings in The Shyft Group were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in SHYF. Envestnet Asset Management Inc. purchased a new position in shares of The Shyft Group during the 1st quarter valued at approximately $233,000. BlackRock Inc. lifted its holdings in The Shyft Group by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,468,593 shares of the company’s stock valued at $91,831,000 after purchasing an additional 35,308 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in The Shyft Group by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 39,252 shares of the company’s stock valued at $1,460,000 after purchasing an additional 707 shares in the last quarter. Bluestein R H & Co. purchased a new position in The Shyft Group in the 1st quarter valued at $260,000. Finally, Geode Capital Management LLC lifted its holdings in The Shyft Group by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 549,782 shares of the company’s stock valued at $20,451,000 after purchasing an additional 45,447 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Shares of NASDAQ:SHYF opened at $38.66 on Thursday. The business has a 50-day moving average price of $41.42 and a 200 day moving average price of $39.13. The company has a current ratio of 1.62, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.91 and a beta of 1.54. The Shyft Group, Inc. has a 12-month low of $18.74 and a 12-month high of $45.08.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, August 18th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Tuesday, August 17th. The Shyft Group’s dividend payout ratio (DPR) is 8.47%.
A number of research analysts have weighed in on SHYF shares. Zacks Investment Research lowered The Shyft Group from a “buy” rating to a “hold” rating in a report on Friday, August 13th. DA Davidson initiated coverage on The Shyft Group in a research note on Tuesday, August 10th. They issued a “buy” rating and a $50.00 target price for the company. Colliers Securities reaffirmed a “buy” rating on shares of The Shyft Group in a research note on Thursday, July 1st. Finally, Raymond James raised their target price on The Shyft Group from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th.
In related news, Director Ronald Edward Harbour sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $40.60, for a total transaction of $812,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daryl M. Adams sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $42.19, for a total value of $632,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $2,075,300 over the last 90 days. 2.88% of the stock is currently owned by company insiders.
The Shyft Group Profile
The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.
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