Lord Abbett & CO. LLC Increases Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Lord Abbett & CO. LLC grew its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 26.3% in the third quarter, HoldingsChannel reports. The fund owned 658,943 shares of the company’s stock after purchasing an additional 137,010 shares during the quarter. Lord Abbett & CO. LLC’s holdings in The Shyft Group were worth $25,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SHYF. Advisor Group Holdings Inc. increased its holdings in The Shyft Group by 11.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,667 shares of the company’s stock worth $100,000 after acquiring an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of The Shyft Group by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 19,674 shares of the company’s stock worth $736,000 after purchasing an additional 286 shares during the period. Macquarie Group Ltd. increased its stake in shares of The Shyft Group by 19.2% in the second quarter. Macquarie Group Ltd. now owns 1,855 shares of the company’s stock worth $69,000 after purchasing an additional 299 shares in the last quarter. ARS Investment Partners LLC raised its position in shares of The Shyft Group by 4.2% during the 3rd quarter. ARS Investment Partners LLC now owns 10,387 shares of the company’s stock valued at $395,000 after purchasing an additional 417 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of The Shyft Group by 10.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,574 shares of the company’s stock valued at $174,000 after buying an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.

SHYF opened at $47.00 on Friday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 0.74 and a beta of 1.49. The company has a fifty day moving average of $49.37 and a 200 day moving average of $43.44. The Shyft Group, Inc. has a fifty-two week low of $28.97 and a fifty-two week high of $54.50.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings data on Thursday, November 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The Shyft Group had a net margin of 6.33% and a return on equity of 26.54%. The business had revenue of $272.60 million during the quarter, compared to the consensus estimate of $247.60 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 34.0% on a year-over-year basis. On average, analysts anticipate that The Shyft Group, Inc. will post 1.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 16th. Shareholders of record on Tuesday, November 16th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.21%. The ex-dividend date was Monday, November 15th. The Shyft Group’s dividend payout ratio is presently 6.45%.

SHYF has been the topic of a number of recent analyst reports. DA Davidson raised their price target on The Shyft Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 5th. Zacks Investment Research downgraded The Shyft Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 6th.

In other The Shyft Group news, CEO Daryl M. Adams sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $705,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Edward Harbour sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $49.40, for a total value of $988,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock worth $2,463,700. Corporate insiders own 2.88% of the company’s stock.

The Shyft Group 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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Institutional Ownership by Quarter for The Shyft Group (NASDAQ:SHYF)

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