First Eagle Investment Management LLC Sells 202,178 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

First Eagle Investment Management LLC cut its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 40.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 297,349 shares of the company’s stock after selling 202,178 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.86% of The Shyft Group worth $3,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Royce & Associates LP boosted its stake in The Shyft Group by 2.7% during the third quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock worth $11,960,000 after acquiring an additional 24,770 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of The Shyft Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 773,150 shares of the company’s stock valued at $9,705,000 after buying an additional 9,588 shares during the last quarter. State Street Corp grew its holdings in shares of The Shyft Group by 0.8% during the third quarter. State Street Corp now owns 706,780 shares of the company’s stock valued at $8,870,000 after buying an additional 5,682 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of The Shyft Group by 16.2% during 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 last quarter. Finally, Centaurus Financial Inc. grew its holdings in shares of The Shyft Group by 0.6% during the third quarter. Centaurus Financial Inc. now owns 433,056 shares of the company’s stock valued at $5,435,000 after buying an additional 2,433 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

The Shyft Group Stock Up 4.1 %

SHYF opened at $9.19 on Friday. 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 company’s 50-day moving average is $11.14 and its 200 day moving average is $12.25. The Shyft Group, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $17.56. The firm has a market capitalization of $321.03 million, a P/E ratio of -102.10 and a beta of 1.69.

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

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, February 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, February 27th. The Shyft Group’s dividend payout ratio is -222.22%.

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.