Squarepoint Ops LLC Lowers Stock Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Squarepoint Ops LLC cut its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 72.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,465 shares of the company’s stock after selling 58,786 shares during the period. Squarepoint Ops LLC owned about 0.07% of The Shyft Group worth $266,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. First Hawaiian Bank acquired a new stake in The Shyft Group during the 2nd quarter worth approximately $542,000. Acadian Asset Management LLC boosted its holdings in 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 purchasing an additional 85,594 shares during the period. PNC Financial Services Group Inc. increased its holdings in The Shyft Group by 101.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after purchasing an additional 270,284 shares during the period. Pzena Investment Management LLC acquired a new stake in The Shyft Group in the 1st quarter valued at about $4,070,000. Finally, Federated Hermes Inc. boosted its stake in shares of The Shyft Group by 15.6% in the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after buying an additional 89,951 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

The Shyft Group Stock Up 3.5 %

The Shyft Group stock opened at $11.98 on Friday. The stock has a market cap of $412.83 million, a PE ratio of -149.75 and a beta of 1.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19. The stock’s fifty day moving average is $12.95 and its two-hundred day moving average is $12.41. 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 posted its 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 firm had revenue of $192.80 million during the quarter, compared to analysts’ expectations 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 firm’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, sell-side analysts expect that The Shyft Group, Inc. will post 0.29 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 annualized dividend and a yield of 1.67%. The Shyft Group’s dividend payout ratio is currently -250.00%.

Wall Street Analysts Forecast Growth

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