Jacobs Levy Equity Management Inc. grew its holdings in The Shyft Group, Inc. (NASDAQ:SHYF – Free Report) by 40.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,653 shares of the company’s stock after purchasing an additional 126,832 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in The Shyft Group were worth $5,436,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Motco acquired a new position in The Shyft Group in the first quarter valued at about $39,000. Sequoia Financial Advisors LLC purchased a new stake in shares of The Shyft Group in the 4th quarter valued at approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Shyft Group by 31.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,978 shares of the company’s stock worth $134,000 after acquiring an additional 2,605 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of The Shyft Group during the 4th quarter worth approximately $142,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in The Shyft Group in the 1st quarter valued at approximately $176,000. 85.84% of the stock is currently owned by hedge funds and other institutional investors.
The Shyft Group Stock Performance
NASDAQ:SHYF traded up $0.14 on Wednesday, reaching $16.69. 139,465 shares of the company’s stock were exchanged, compared to its average volume of 319,793. The business has a fifty day moving average of $12.17 and a 200-day moving average of $11.66. 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, Inc. has a 52-week low of $9.81 and a 52-week high of $17.04.
The Shyft Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.20 annualized dividend and a yield of 1.20%. The Shyft Group’s payout ratio is -2,000.00%.
Wall Street Analyst Weigh In
Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $18.00 in a research note on Monday.
Read Our Latest Report on The Shyft Group
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.
See Also
- Five stocks we like better than The Shyft Group
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- How to Effectively Use the MarketBeat Ratings Screener
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- How Investors Can Find the Best Cheap Dividend Stocks
- 5 Aggressive Growth Stocks for Long-Term Investors
Want to see what other hedge funds are holding SHYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Shyft Group, Inc. (NASDAQ:SHYF – Free Report).
Receive News & Ratings for The Shyft Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Shyft Group and related companies with MarketBeat.com's FREE daily email newsletter.