Charles Schwab Investment Management Inc. Cuts Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Charles Schwab Investment Management Inc. lowered its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,267 shares of the company’s stock after selling 86,546 shares during the period. Charles Schwab Investment Management Inc.’s holdings in The Shyft Group were worth $4,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in The Shyft Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 773,150 shares of the company’s stock worth $9,705,000 after buying an additional 9,588 shares during the period. State Street Corp increased its stake in The Shyft Group by 0.8% in the third quarter. State Street Corp now owns 706,780 shares of the company’s stock valued at $8,870,000 after purchasing an additional 5,682 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in 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 purchasing an additional 78,550 shares during the period. Kirr Marbach & Co. LLC IN raised its holdings in shares of The Shyft Group by 32.5% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 300,901 shares of the company’s stock valued at $3,533,000 after buying an additional 73,773 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of The Shyft Group by 49.9% during the third quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company’s stock worth $2,216,000 after buying an additional 58,816 shares during the period. 85.84% of the stock is owned by institutional investors and hedge funds.

The Shyft Group Price Performance

The Shyft Group stock opened at $9.17 on Thursday. The firm’s 50-day moving average is $10.87 and its two-hundred day moving average is $12.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The stock has a market capitalization of $320.33 million, a P/E ratio of -101.88 and a beta of 1.69. The Shyft Group, Inc. has a 12-month low of $8.27 and a 12-month high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.09). The business had revenue of $201.43 million during the quarter, compared to analyst estimates of $211.90 million. The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. Equities analysts predict that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, February 27th. The Shyft Group’s dividend payout ratio (DPR) is presently -222.22%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHYF. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a research note on Tuesday, December 17th. DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 15th.

The Shyft Group 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.