Sequoia Financial Advisors LLC Invests $124,000 in The Shyft Group, Inc. (NASDAQ:SHYF)

Sequoia Financial Advisors LLC purchased a new stake in The Shyft Group, Inc. (NASDAQ:SHYF) in the fourth quarter, Holdings Channel reports. The firm purchased 10,110 shares of the company’s stock, valued at approximately $124,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in shares of The Shyft Group in the 4th quarter worth $14,965,000. Millennium Management LLC raised its holdings in shares of The Shyft Group by 2,157.1% in the fourth quarter. Millennium Management LLC now owns 570,924 shares of the company’s stock valued at $14,193,000 after acquiring an additional 545,629 shares in the last quarter. Schwerin Boyle Capital Management Inc. lifted its stake in The Shyft Group by 164.2% in the third quarter. Schwerin Boyle Capital Management Inc. now owns 582,657 shares of the company’s stock worth $8,722,000 after acquiring an additional 362,100 shares during the period. Alliancebernstein L.P. grew its holdings in The Shyft Group by 20.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,062,338 shares of the company’s stock worth $51,270,000 after acquiring an additional 356,411 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in The Shyft Group by 1,532.0% during the 3rd quarter. AQR Capital Management LLC now owns 329,043 shares of the company’s stock valued at $4,926,000 after purchasing an additional 308,881 shares during the period. Institutional investors own 85.84% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson dropped their price objective on shares of The Shyft Group from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

The Shyft Group Trading Up 3.8 %

Shares of NASDAQ SHYF opened at $10.66 on Monday. The Shyft Group, Inc. has a 1-year low of $9.81 and a 1-year high of $27.36. The business has a fifty day moving average price of $11.23 and a 200 day moving average price of $11.62. The stock has a market capitalization of $366.00 million, a P/E ratio of 59.22 and a beta of 1.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.57 and a quick ratio of 0.99.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The Shyft Group had a net margin of 0.74% and a return on equity of 4.91%. The business had revenue of $202.33 million during the quarter, compared to analyst estimates of $205.40 million. Equities research analysts expect that The Shyft Group, Inc. will post 0.28 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.20 annualized dividend and a yield of 1.88%. The Shyft Group’s dividend payout ratio (DPR) is 111.11%.

Insiders Place Their Bets

In other The Shyft Group news, CEO John Albert Dunn acquired 4,545 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the acquisition, the chief executive officer now owns 35,894 shares in the company, valued at approximately $394,834. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.54% of the company’s stock.

About The Shyft Group

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.