Public Employees Retirement System of Ohio Boosts Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Public Employees Retirement System of Ohio lifted its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 1,062.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,477 shares of the company’s stock after buying an additional 16,888 shares during the period. Public Employees Retirement System of Ohio’s holdings in The Shyft Group were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHYF. Federated Hermes Inc. lifted its position in The Shyft Group by 15.6% during the second 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. Essex Investment Management Co. LLC purchased a new position in The Shyft Group during the 3rd quarter valued at about $2,292,000. Jacobs Levy Equity Management Inc. boosted its stake in The Shyft Group by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock worth $7,081,000 after acquiring an additional 78,550 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of The Shyft Group by 31.9% during the second quarter. Foundry Partners LLC now owns 319,640 shares of the company’s stock valued at $3,791,000 after purchasing an additional 77,225 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of The Shyft Group during the second quarter valued at approximately $523,000. 85.84% of the stock is owned by institutional investors.

The Shyft Group Trading Up 0.4 %

Shares of NASDAQ SHYF opened at $11.45 on Friday. The firm’s 50 day moving average price is $13.22 and its 200-day moving average price is $12.85. The Shyft Group, Inc. has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The company has a market cap of $394.96 million, a PE ratio of -95.42 and a beta of 1.63.

The Shyft Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.20 annualized dividend and a yield of 1.75%. The Shyft Group’s dividend payout ratio is -166.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHYF. DA Davidson reaffirmed a “neutral” rating and set a $15.00 price objective (down previously from $18.00) on shares of The Shyft Group in a research report on Tuesday, December 17th. Roth Mkm restated a “buy” rating and set a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.

About The Shyft Group

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.