Russell Investments Group Ltd. trimmed its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 23.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,037 shares of the company’s stock after selling 102,961 shares during the period. Russell Investments Group Ltd. owned approximately 0.93% of The Shyft Group worth $12,164,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in The Shyft Group by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,468,593 shares of the company’s stock valued at $91,831,000 after buying an additional 35,308 shares during the last quarter. Alliancebernstein L.P. grew its position in The Shyft Group by 6.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,653,572 shares of the company’s stock valued at $46,928,000 after buying an additional 93,219 shares during the last quarter. Standard Life Aberdeen plc grew its position in The Shyft Group by 564.8% in the 1st quarter. Standard Life Aberdeen plc now owns 1,077,559 shares of the company’s stock valued at $40,139,000 after buying an additional 915,461 shares during the last quarter. GW&K Investment Management LLC grew its position in The Shyft Group by 96.5% in the 4th quarter. GW&K Investment Management LLC now owns 895,074 shares of the company’s stock valued at $25,402,000 after buying an additional 439,533 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of The Shyft Group by 0.4% during the 1st quarter. Royce & Associates LP now owns 759,546 shares of the company’s stock worth $28,255,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
In related news, insider Stephen K. Guillaume sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $41.26, for a total value of $206,300.00. Following the completion of the transaction, the insider now owns 56,697 shares of the company’s stock, valued at approximately $2,339,318.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daryl M. Adams sold 15,000 shares of the business’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $41.37, for a total transaction of $620,550.00. Following the completion of the transaction, the chief executive officer now directly owns 465,043 shares of the company’s stock, valued at approximately $19,238,828.91. The disclosure for this sale can be found here. Insiders have sold a total of 53,659 shares of company stock valued at $2,117,886 in the last ninety days. Corporate insiders own 2.88% of the company’s stock.
The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $197.89 million during the quarter, compared to the consensus estimate of $192.66 million. The Shyft Group had a return on equity of 22.34% and a net margin of 5.25%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that The Shyft Group, Inc. will post 1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Tuesday, May 18th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, May 17th. The Shyft Group’s dividend payout ratio (DPR) is presently 8.47%.
Several brokerages have commented on SHYF. Zacks Investment Research lowered shares of The Shyft Group from a “buy” rating to a “hold” rating in a research report on Friday, May 21st. Raymond James boosted their target price on shares of The Shyft Group from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday.
The Shyft Group Company Profile
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. The company's Fleet Vehicles and Services segment manufactures and sells commercial vehicles that are 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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