The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) announced a quarterly dividend on Monday, May 2nd, Zacks reports. Investors of record on Tuesday, May 17th will be given a dividend of 0.05 per share on Friday, June 17th. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, May 16th.
The Shyft Group has a dividend payout ratio of 7.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect The Shyft Group to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.4%.
The Shyft Group stock opened at $25.86 on Tuesday. The Shyft Group has a fifty-two week low of $25.00 and a fifty-two week high of $54.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.64 and a quick ratio of 0.99. The firm has a 50 day moving average of $35.45. The firm has a market cap of $905.62 million, a P/E ratio of 17.59 and a beta of 1.71.
SHYF has been the subject of several research reports. Raymond James dropped their price target on shares of The Shyft Group from $57.00 to $50.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 26th. DA Davidson cut shares of The Shyft Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 6th. Finally, Zacks Investment Research cut shares of The Shyft Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th.
In other news, Director Thomas R. Clevinger sold 5,000 shares of The Shyft Group stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $39.27, for a total transaction of $196,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.26% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SHYF. Invesco Ltd. lifted its position in The Shyft Group by 74.8% in the fourth quarter. Invesco Ltd. now owns 165,568 shares of the company’s stock valued at $8,134,000 after acquiring an additional 70,854 shares during the last quarter. Morgan Stanley lifted its position in The Shyft Group by 55.0% in the third quarter. Morgan Stanley now owns 160,305 shares of the company’s stock valued at $6,093,000 after acquiring an additional 56,896 shares during the last quarter. Millennium Management LLC lifted its position in The Shyft Group by 317.0% in the fourth quarter. Millennium Management LLC now owns 54,964 shares of the company’s stock valued at $2,700,000 after acquiring an additional 41,783 shares during the last quarter. BlackRock Inc. lifted its position in The Shyft Group by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,288,814 shares of the company’s stock valued at $112,451,000 after acquiring an additional 38,849 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in The Shyft Group by 120.8% in the fourth quarter. Deutsche Bank AG now owns 51,256 shares of the company’s stock valued at $2,519,000 after acquiring an additional 28,047 shares during the last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.
The Shyft Group Company Profile (Get Rating)
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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.
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