The Shyft Group, Inc. (NASDAQ:SHYF) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in The Shyft Group, Inc. (NASDAQ:SHYF) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,099,622 shares of the company’s stock after selling 144,212 shares during the period. Pzena Investment Management LLC owned about 0.09% of The Shyft Group worth $38,900,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SHYF. Royce & Associates LP increased its position in The Shyft Group by 2.7% in the third quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock worth $11,960,000 after buying an additional 24,770 shares during the period. Los Angeles Capital Management LLC bought a new stake in The Shyft Group in the 3rd quarter valued at about $241,000. Essex Investment Management Co. LLC acquired a new position in The Shyft Group during the 3rd quarter valued at about $2,292,000. Point72 DIFC Ltd bought a new position in The Shyft Group in the 2nd quarter worth about $60,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of The Shyft Group in the second quarter valued at approximately $59,000. Institutional investors own 85.84% of the company’s stock.

The Shyft Group Price Performance

SHYF traded down $0.18 during trading on Wednesday, reaching $13.16. The stock had a trading volume of 9,402 shares, compared to its average volume of 299,588. The stock has a 50 day moving average of $12.84 and a two-hundred day moving average of $12.75. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $453.89 million, a price-to-earnings ratio of -111.17 and a beta of 1.63. The Shyft Group, Inc. has a 1-year low of $9.81 and a 1-year high of $17.56.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 15th. The Shyft Group’s payout ratio is -166.67%.

Wall Street Analyst Weigh In

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

The Shyft Group 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.