The Shyft Group, Inc. (NASDAQ:SHYF) Shares Purchased by Royce & Associates LP

Royce & Associates LP lifted its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,018 shares of the company’s stock after purchasing an additional 24,770 shares during the period. Royce & Associates LP owned about 2.76% of The Shyft Group worth $11,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in The Shyft Group during the second quarter worth $26,000. CWM LLC grew its holdings in shares of The Shyft Group by 260.9% in the second quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after purchasing an additional 3,420 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of The Shyft Group in the second quarter valued at about $59,000. Point72 DIFC Ltd purchased a new stake in shares of The Shyft Group in the second quarter valued at about $60,000. Finally, National Bank of Canada FI grew its holdings in shares of The Shyft Group by 6,784.7% in the second quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 5,767 shares during the period. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Stock Performance

NASDAQ SHYF opened at $13.92 on Friday. The firm’s 50-day moving average is $12.78 and its two-hundred day moving average is $12.72. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $17.56. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.44%. The Shyft Group’s payout ratio is currently -166.67%.

Wall Street Analyst Weigh In

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $12.00 to $18.00 in a report on Monday, July 29th.

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.