Victory Capital Management Inc. reduced its stake in The Shyft Group, Inc. (NASDAQ:SHYF – Free Report) by 41.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,981 shares of the company’s stock after selling 22,295 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of The Shyft Group worth $706,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in The Shyft Group by 55.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,301 shares of the company’s stock worth $27,000 after buying an additional 466 shares during the last quarter. Quarry LP raised its position in The Shyft Group by 1,501.9% during the 1st quarter. Quarry LP now owns 1,650 shares of the company’s stock worth $38,000 after buying an additional 1,547 shares during the last quarter. Point72 Hong Kong Ltd raised its position in The Shyft Group by 548.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,756 shares of the company’s stock worth $63,000 after buying an additional 1,485 shares during the last quarter. Citigroup Inc. raised its position in The Shyft Group by 29.7% during the 1st quarter. Citigroup Inc. now owns 2,386 shares of the company’s stock worth $54,000 after buying an additional 547 shares during the last quarter. Finally, UBS Group AG raised its position in The Shyft Group by 57.5% during the 3rd quarter. UBS Group AG now owns 3,050 shares of the company’s stock worth $63,000 after buying an additional 1,114 shares during the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at The Shyft Group
In related news, CFO Jonathan C. Douyard purchased 9,060 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $11.10 per share, with a total value of $100,566.00. Following the purchase, the chief financial officer now owns 81,506 shares of the company’s stock, valued at $904,716.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.65% of the stock is owned by corporate insiders.
The Shyft Group Price Performance
The Shyft Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. The Shyft Group’s dividend payout ratio is currently 24.69%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on SHYF shares. BTIG Research cut shares of The Shyft Group from a “buy” rating to a “neutral” rating in a research note on Friday, October 27th. DA Davidson cut shares of The Shyft Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $16.00 in a research note on Friday, July 28th. Raymond James dropped their price objective on shares of The Shyft Group from $26.00 to $18.00 in a research note on Friday, July 28th. Finally, Craig Hallum dropped their price objective on shares of The Shyft Group from $16.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.
View Our Latest Stock Report on The Shyft Group
The Shyft Group Profile
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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.
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