Kirr Marbach & Co. LLC IN Cuts Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Kirr Marbach & Co. LLC IN trimmed its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 227,128 shares of the company’s stock after selling 979 shares during the period. Kirr Marbach & Co. LLC IN’s holdings in The Shyft Group were worth $2,850,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in The Shyft Group during the second quarter valued at $26,000. Motco bought a new position in shares of The Shyft Group during the first quarter valued at $39,000. CWM LLC raised its position in shares of The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after purchasing an additional 3,420 shares during the last quarter. Point72 Asset Management L.P. bought a new position in The Shyft Group in the 2nd quarter worth about $59,000. Finally, Point72 DIFC Ltd purchased a new stake in The Shyft Group during the 2nd quarter valued at about $60,000. 85.84% of the stock is owned by institutional investors.

The Shyft Group Stock Performance

Shares of SHYF opened at $12.84 on Friday. The company has a market cap of $441.36 million, a price-to-earnings ratio of -1,284.00 and a beta of 1.65. The business’s fifty day simple moving average is $12.83 and its two-hundred day simple moving average is $12.42. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $17.56. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The firm had revenue of $192.80 million for the quarter, compared to the consensus estimate of $201.49 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down 14.3% on a year-over-year basis. Research analysts anticipate that The Shyft Group, Inc. will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. The Shyft Group’s dividend payout ratio is presently -2,000.00%.

Analyst Ratings Changes

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock 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.