Russell Investments Group Ltd. Reduces Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Russell Investments Group Ltd. lowered its holdings in The Shyft Group, Inc. (NASDAQ:SHYF) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 207,428 shares of the company’s stock after selling 12,998 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.59% of The Shyft Group worth $7,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ziegler Capital Management LLC lifted its stake in shares of The Shyft Group by 164.8% in the 3rd quarter. Ziegler Capital Management LLC now owns 361,854 shares of the company’s stock valued at $13,754,000 after purchasing an additional 225,226 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of The Shyft Group by 37.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 465,107 shares of the company’s stock valued at $17,400,000 after purchasing an additional 126,403 shares during the period. Tabor Asset Management LP increased its position in The Shyft Group by 138.5% during the 2nd quarter. Tabor Asset Management LP now owns 191,564 shares of the company’s stock valued at $7,166,000 after buying an additional 111,247 shares in the last quarter. RK Capital Management LLC increased its position in The Shyft Group by 23.4% during the 2nd quarter. RK Capital Management LLC now owns 338,700 shares of the company’s stock valued at $12,671,000 after buying an additional 64,200 shares in the last quarter. Finally, Tygh Capital Management Inc. increased its position in The Shyft Group by 25.3% during the 3rd quarter. Tygh Capital Management Inc. now owns 274,092 shares of the company’s stock valued at $10,418,000 after buying an additional 55,356 shares in the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.

SHYF has been the subject of a number of analyst reports. DA Davidson raised their price objective on The Shyft Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 5th. Zacks Investment Research lowered The Shyft Group from a “buy” rating to a “hold” rating in a report on Thursday, January 6th.

The Shyft Group stock opened at $47.00 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 0.74 and a beta of 1.49. The stock has a fifty day simple moving average of $49.37 and a two-hundred day simple moving average of $43.44. The Shyft Group, Inc. has a 12 month low of $28.97 and a 12 month high of $54.50.

The Shyft Group (NASDAQ:SHYF) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.09. The Shyft Group had a return on equity of 26.54% and a net margin of 6.33%. The company had revenue of $272.60 million during the quarter, compared to analyst estimates of $247.60 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The Shyft Group’s revenue was up 34.0% compared to the same quarter last year. On average, research analysts expect that The Shyft Group, Inc. will post 1.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Tuesday, November 16th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Monday, November 15th. The Shyft Group’s payout ratio is currently 6.45%.

In other The Shyft Group news, CEO Daryl M. Adams sold 15,000 shares of the company’s stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $51.38, for a total value of $770,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald Edward Harbour sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $49.40, for a total value of $988,000.00. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $2,463,700 in the last ninety days. 2.88% of the stock is currently owned by corporate insiders.

About The Shyft Group

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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Institutional Ownership by Quarter for The Shyft Group (NASDAQ:SHYF)

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