Truist Financial Corp grew its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,771 shares of the company’s stock after acquiring an additional 455 shares during the quarter. Truist Financial Corp’s holdings in The Shyft Group were worth $567,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of The Shyft Group by 49.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,745 shares of the company’s stock valued at $32,000 after acquiring an additional 575 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in The Shyft Group by 548.0% during the first quarter. Point72 Hong Kong Ltd now owns 1,756 shares of the company’s stock valued at $63,000 after buying an additional 1,485 shares in the last quarter. First Republic Investment Management Inc. grew its stake in The Shyft Group by 25.2% during the first quarter. First Republic Investment Management Inc. now owns 6,979 shares of the company’s stock worth $252,000 after buying an additional 1,405 shares during the period. Brown Advisory Inc. increased its position in shares of The Shyft Group by 15.2% in the second quarter. Brown Advisory Inc. now owns 7,471 shares of the company’s stock worth $367,000 after acquiring an additional 984 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of The Shyft Group in the second quarter worth $142,000. Institutional investors and hedge funds own 80.17% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on SHYF shares. BTIG Research started coverage on shares of The Shyft Group in a report on Thursday. They set a “buy” rating and a $40.00 target price on the stock. Raymond James upped their target price on The Shyft Group from $28.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Thursday.
The Shyft Group Price Performance
SHYF opened at $31.07 on Monday. The Shyft Group, Inc. has a twelve month low of $17.66 and a twelve month high of $46.55. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 28.50 and a beta of 1.75. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $25.80 and a 200 day simple moving average of $23.96.
The Shyft Group (NASDAQ:SHYF – Get Rating) last announced its earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.13. The Shyft Group had a return on equity of 15.42% and a net margin of 3.91%. The company had revenue of $286.08 million during the quarter, compared to the consensus estimate of $279.70 million. Equities research analysts expect that The Shyft Group, Inc. will post 0.97 EPS for the current fiscal year.
The Shyft Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Tuesday, November 15th. The Shyft Group’s payout ratio is 18.35%.
The Shyft Group Company Profile
The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.
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