The Shyft Group, Inc. to Issue Quarterly Dividend of $0.05 (NASDAQ:SHYF)

The Shyft Group, Inc. (NASDAQ:SHYF) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.05 per share on Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, May 16th.

The Shyft Group has raised its dividend by an average of 26.0% annually over the last three years. The Shyft Group has a dividend payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Shyft Group to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 26.7%.

The Shyft Group Stock Performance

NASDAQ SHYF traded up $0.13 on Friday, hitting $12.52. 329,201 shares of the stock traded hands, compared to its average volume of 328,629. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.12 and a current ratio of 1.77. The business’s fifty day moving average is $11.24 and its two-hundred day moving average is $11.42. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $27.36. The firm has a market capitalization of $430.31 million, a price-to-earnings ratio of -1,252.00 and a beta of 1.69.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The Shyft Group had a return on equity of 2.76% and a net margin of 0.01%. The company had revenue of $202.33 million during the quarter, compared to the consensus estimate of $205.40 million. As a group, equities analysts anticipate that The Shyft Group will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Albert Dunn purchased 4,545 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $11.00 per share, with a total value of $49,995.00. Following the completion of the acquisition, the chief executive officer now owns 35,894 shares in the company, valued at approximately $394,834. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, DA Davidson lowered their target price on shares of The Shyft Group from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th.

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.