National Bank of Canada FI Raises Stock Position in The Shyft Group, Inc. (NASDAQ:SHYF)

National Bank of Canada FI grew its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 6,784.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,852 shares of the company’s stock after buying an additional 5,767 shares during the period. National Bank of Canada FI’s holdings in The Shyft Group were worth $65,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. First Hawaiian Bank acquired a new position in shares of The Shyft Group in the 2nd quarter valued at $542,000. Charles Schwab Investment Management Inc. increased its stake in The Shyft Group by 15.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock valued at $6,284,000 after purchasing an additional 69,264 shares during the period. Acadian Asset Management LLC raised its holdings in shares of The Shyft Group by 36.1% in the first quarter. Acadian Asset Management LLC now owns 322,654 shares of the company’s stock valued at $4,005,000 after buying an additional 85,594 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of The Shyft Group by 101.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after buying an additional 270,284 shares during the period. Finally, Pzena Investment Management LLC purchased a new position in shares of The Shyft Group during the first quarter worth about $4,070,000. 85.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson raised 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 research note on Monday, July 29th.

The Shyft Group Stock Performance

Shares of SHYF stock opened at $12.75 on Friday. The stock has a fifty day moving average price of $13.07 and a 200 day moving average price of $12.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86. The stock has a market cap of $438.27 million, a PE ratio of -1,275.00 and a beta of 1.65. The Shyft Group, Inc. has a 1 year low of $9.81 and a 1 year high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. The company had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The Shyft Group’s revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. Sell-side analysts forecast that The Shyft Group, Inc. will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, August 16th. The Shyft Group’s payout ratio is -2,000.00%.

The Shyft Group Company 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.