DA Davidson upgraded shares of The Shyft Group (NASDAQ:SHYF – Free Report) from a neutral rating to a buy rating in a report issued on Wednesday, MarketBeat reports. They currently have $15.00 price objective on the stock.
Separately, Roth Mkm restated a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th.
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The Shyft Group Stock Up 17.3 %
The Shyft Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.05 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. The Shyft Group’s dividend payout ratio (DPR) is currently -166.67%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SHYF. Essex Investment Management Co. LLC bought a new stake in The Shyft Group during the 3rd quarter worth $2,292,000. Federated Hermes Inc. grew its holdings in shares of The Shyft Group by 15.6% during the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock worth $7,907,000 after purchasing an additional 89,951 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of The Shyft Group by 16.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock valued at $7,081,000 after buying an additional 78,550 shares during the period. JPMorgan Chase & Co. increased its stake in shares of The Shyft Group by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company’s stock valued at $2,216,000 after buying an additional 58,816 shares during the period. Finally, Marshall Wace LLP acquired a new stake in The Shyft Group during the 2nd quarter worth approximately $523,000. 85.84% of the stock is currently owned by institutional investors.
The Shyft Group Company Profile
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.
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