Federated Hermes Inc. Takes Position in The Shyft Group, Inc. (NASDAQ:SHYF)

Federated Hermes Inc. purchased a new stake in The Shyft Group, Inc. (NASDAQ:SHYF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,134 shares of the company’s stock, valued at approximately $1,236,000. Federated Hermes Inc. owned 0.29% of The Shyft Group as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 28,179 shares during the period. Schwerin Boyle Capital Management Inc. lifted its stake in shares of The Shyft Group by 164.2% in the 3rd quarter. Schwerin Boyle Capital Management Inc. now owns 582,657 shares of the company’s stock valued at $8,722,000 after purchasing an additional 362,100 shares during the period. Charles Schwab Investment Management Inc. raised its stake in The Shyft Group by 12.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 444,953 shares of the company’s stock worth $6,661,000 after buying an additional 49,649 shares during the period. AQR Capital Management LLC raised its stake in The Shyft Group by 1,532.0% during the 3rd quarter. AQR Capital Management LLC now owns 329,043 shares of the company’s stock worth $4,926,000 after buying an additional 308,881 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in The Shyft Group by 113.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 302,346 shares of the company’s stock worth $4,526,000 after buying an additional 160,687 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price objective on The Shyft Group from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th.

The Shyft Group Stock Performance

Shares of The Shyft Group stock opened at $10.88 on Wednesday. The company has a market capitalization of $373.99 million, a PE ratio of -1,088.00 and a beta of 1.67. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $27.36. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $11.20 and its 200 day simple moving average is $11.43.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The firm had revenue of $202.33 million during the quarter, compared to analysts’ expectations of $205.40 million. The Shyft Group had a return on equity of 2.76% and a net margin of 0.01%. On average, research analysts predict that The Shyft Group, Inc. will post 0.28 EPS for the current year.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Thursday, February 15th. The Shyft Group’s dividend payout ratio (DPR) is presently -2,000.00%.

Insiders Place Their Bets

In other news, CEO John Albert Dunn bought 4,545 shares of the stock in a transaction on Monday, February 26th. The stock was purchased at an average price 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 $394,834. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.54% of the company’s stock.

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.