Raymond James Financial Services Advisors Inc. Has $571,000 Stock Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYFGet Rating) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,970 shares of the company’s stock after selling 2,522 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in The Shyft Group were worth $571,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in The Shyft Group by 49.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,745 shares of the company’s stock worth $32,000 after buying an additional 575 shares during the period. Point72 Hong Kong Ltd lifted its holdings in shares of The Shyft Group by 33.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,339 shares of the company’s stock worth $43,000 after purchasing an additional 583 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of The Shyft Group in the 2nd quarter worth $142,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in The Shyft Group during the 2nd quarter valued at $196,000. Finally, SG Americas Securities LLC acquired a new position in The Shyft Group during the second quarter worth $203,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Stock Performance

NASDAQ SHYF opened at $32.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.76 and a quick ratio of 1.16. The company has a fifty day moving average price of $25.92 and a 200-day moving average price of $24.09. The Shyft Group, Inc. has a 1 year low of $17.66 and a 1 year high of $46.55. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 29.84 and a beta of 1.75.

The Shyft Group (NASDAQ:SHYFGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.36 by $0.13. The Shyft Group had a net margin of 3.91% and a return on equity of 15.42%. The firm had revenue of $286.08 million during the quarter, compared to analyst estimates of $279.70 million. As a group, equities research analysts predict that The Shyft Group, Inc. will post 0.97 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. The Shyft Group’s dividend payout ratio (DPR) is presently 18.35%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHYF. Raymond James lifted their price objective on shares of The Shyft Group from $28.00 to $40.00 and gave the company a “strong-buy” rating in a report on Thursday, January 19th. BTIG Research began coverage on The Shyft Group in a report on Thursday, January 19th. They set a “buy” rating and a $40.00 price objective for the company.

Insider Activity

In related news, insider Stephen K. Guillaume sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $24.51, for a total value of $367,650.00. Following the transaction, the insider now directly owns 63,014 shares of the company’s stock, valued at approximately $1,544,473.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.26% of the company’s stock.

The Shyft Group Company Profile

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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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