Quest Partners LLC Makes New Investment in The Shyft Group, Inc. (NASDAQ:SHYF)

Quest Partners LLC bought a new stake in The Shyft Group, Inc. (NASDAQ:SHYF) during the fourth quarter, HoldingsChannel.com reports. The firm bought 31,881 shares of the company’s stock, valued at approximately $390,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in The Shyft Group by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,739,076 shares of the company’s stock valued at $26,034,000 after buying an additional 28,179 shares in the last quarter. Schwerin Boyle Capital Management Inc. increased its holdings in shares of The Shyft Group by 164.2% in the third quarter. Schwerin Boyle Capital Management Inc. now owns 582,657 shares of the company’s stock worth $8,722,000 after purchasing an additional 362,100 shares during the period. PNC Financial Services Group Inc. grew its position in The Shyft Group by 101.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after acquiring an additional 270,284 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $6,284,000 after acquiring an additional 69,264 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in The Shyft Group by 44.9% during the fourth quarter. First Eagle Investment Management LLC now owns 438,116 shares of the company’s stock valued at $5,354,000 after buying an additional 135,770 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

Insider Activity

In related news, CEO John Albert Dunn purchased 4,545 shares of The Shyft Group stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $49,995.00. Following the acquisition, the chief executive officer now owns 35,894 shares in the company, valued at approximately $394,834. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.54% of the company’s stock.

The Shyft Group Stock Performance

Shares of NASDAQ SHYF traded down $0.09 on Friday, reaching $12.53. 243,020 shares of the company’s stock traded hands, compared to its average volume of 249,103. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $27.36. The business’s 50 day simple moving average is $11.86 and its two-hundred day simple moving average is $11.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.12.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.15. The Shyft Group had a net margin of 0.01% and a return on equity of 2.76%. The company had revenue of $197.89 million during the quarter, compared to the consensus estimate of $183.90 million. Equities analysts predict that The Shyft Group, Inc. will post 0.26 EPS for the current year.

The Shyft Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.60%. The Shyft Group’s payout ratio is -2,000.00%.

Analysts Set New Price Targets

Separately, DA Davidson dropped their target price on shares of The Shyft Group from $13.00 to $12.00 and set a “neutral” rating for the company 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.