Russell Investments Group Ltd. reduced its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 23.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 327,037 shares of the company’s stock after selling 102,961 shares during the quarter. Russell Investments Group Ltd.’s holdings in The Shyft Group were worth $12,164,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of The Shyft Group during the 4th quarter valued at approximately $40,000. Dorsey Wright & Associates raised its position in shares of The Shyft Group by 135.7% during the 1st quarter. Dorsey Wright & Associates now owns 1,308 shares of the company’s stock valued at $49,000 after acquiring an additional 753 shares in the last quarter. US Bancorp DE acquired a new stake in shares of The Shyft Group during the 1st quarter valued at approximately $78,000. SG Americas Securities LLC acquired a new stake in shares of The Shyft Group during the 4th quarter valued at approximately $144,000. Finally, Meeder Asset Management Inc. raised its position in shares of The Shyft Group by 60,550.0% during the 1st quarter. Meeder Asset Management Inc. now owns 4,852 shares of the company’s stock valued at $180,000 after acquiring an additional 4,844 shares in the last quarter. 78.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Daryl M. Adams sold 15,000 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $41.37, for a total value of $620,550.00. Following the completion of the transaction, the chief executive officer now owns 465,043 shares of the company’s stock, valued at $19,238,828.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen K. Guillaume sold 5,000 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $41.26, for a total value of $206,300.00. Following the completion of the transaction, the insider now directly owns 56,697 shares of the company’s stock, valued at approximately $2,339,318.22. The disclosure for this sale can be found here. Insiders sold 53,659 shares of company stock worth $2,117,886 over the last ninety days. 2.88% of the stock is owned by corporate insiders.
Shares of NASDAQ SHYF opened at $40.90 on Friday. The Shyft Group, Inc. has a 1-year low of $14.70 and a 1-year high of $43.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.46 and a quick ratio of 1.05. The stock has a fifty day moving average of $37.99. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 1.23 and a beta of 1.60.
The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, May 6th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The Shyft Group had a return on equity of 22.34% and a net margin of 5.25%. The firm had revenue of $197.89 million for the quarter, compared to analyst estimates of $192.66 million. The Shyft Group’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts predict that The Shyft Group, Inc. will post 1.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Tuesday, May 18th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.24%. The ex-dividend date is Monday, May 17th. The Shyft Group’s dividend payout ratio is presently 8.47%.
The Shyft Group Profile
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. The company's Fleet Vehicles and Services segment manufactures and sells commercial vehicles that are used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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