Price T Rowe Associates Inc. MD Purchases 2,224 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Price T Rowe Associates Inc. MD raised its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,758 shares of the company’s stock after acquiring an additional 2,224 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.10% of The Shyft Group worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SHYF. Murphy & Mullick Capital Management Corp bought a new stake in The Shyft Group during the 4th quarter valued at $41,000. Quantbot Technologies LP purchased a new stake in shares of The Shyft Group during the 4th quarter valued at $48,000. Tower Research Capital LLC TRC lifted its holdings in shares of The Shyft Group by 77.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company’s stock valued at $52,000 after purchasing an additional 1,919 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of The Shyft Group during the 4th quarter valued at $138,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of The Shyft Group during the 4th quarter valued at $209,000. Institutional investors own 85.84% of the company’s stock.

The Shyft Group Stock Performance

Shares of SHYF stock opened at $9.68 on Thursday. The firm has a market capitalization of $338.86 million, a price-to-earnings ratio of -107.54 and a beta of 1.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The business has a fifty day moving average of $8.58 and a 200 day moving average of $11.01. The Shyft Group, Inc. has a 1 year low of $6.82 and a 1 year high of $17.56.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The firm had revenue of $201.43 million during the quarter, compared to analysts’ expectations of $211.90 million. The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. As a group, research analysts expect that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.07%. The Shyft Group’s payout ratio is currently 2,000.00%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, January 15th.

The Shyft Group Profile

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.