Pzena Investment Management LLC Acquires 2,916,101 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Pzena Investment Management LLC grew its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 889.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,243,834 shares of the company’s stock after buying an additional 2,916,101 shares during the period. Pzena Investment Management LLC owned approximately 0.09% of The Shyft Group worth $38,472,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SHYF. nVerses Capital LLC bought a new stake in The Shyft Group in the 2nd quarter valued at about $26,000. Motco bought a new stake in shares of The Shyft Group during the first quarter valued at approximately $39,000. CWM LLC increased its holdings in shares of The Shyft Group by 260.9% during the second quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after acquiring an additional 3,420 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of The Shyft Group by 31.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,978 shares of the company’s stock worth $134,000 after purchasing an additional 2,605 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of The Shyft Group in the 1st quarter worth $176,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $18.00 in a report on Monday, July 29th.

The Shyft Group Stock Performance

Shares of SHYF opened at $13.46 on Wednesday. The firm has a market capitalization of $463.83 million, a P/E ratio of -1,346.00 and a beta of 1.66. The Shyft Group, Inc. has a 52 week low of $9.81 and a 52 week high of $17.56. The stock has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $12.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. The business had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The Shyft Group’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. Equities analysts forecast that The Shyft Group, Inc. will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.49%. The Shyft Group’s dividend payout ratio is currently -2,000.00%.

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.