The Shyft Group, Inc. (NASDAQ:SHYF) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 953,018 shares of the company’s stock after purchasing an additional 24,770 shares during the quarter. Royce & Associates LP’s holdings in The Shyft Group were worth $11,960,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in The Shyft Group in the third quarter valued at approximately $241,000. Essex Investment Management Co. LLC purchased a new position in The Shyft Group in the third quarter worth approximately $2,292,000. Point72 DIFC Ltd purchased a new position in The Shyft Group in the second quarter worth approximately $60,000. Point72 Asset Management L.P. purchased a new position in The Shyft Group in the second quarter worth approximately $59,000. Finally, Pacific Ridge Capital Partners LLC lifted its stake in The Shyft Group by 52.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 45,652 shares of the company’s stock worth $541,000 after acquiring an additional 15,775 shares during the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

Wall Street Analyst Weigh In

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

The Shyft Group Stock Performance

Shares of The Shyft Group stock opened at $13.92 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The Shyft Group, Inc. has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a 50 day moving average of $12.78 and a 200 day moving average of $12.72.

The Shyft Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. The Shyft Group’s dividend payout ratio is presently -166.67%.

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.