Lord Abbett & CO. LLC Acquires 137,010 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Lord Abbett & CO. LLC boosted its holdings in The Shyft Group, Inc. (NASDAQ:SHYF) by 26.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 658,943 shares of the company’s stock after purchasing an additional 137,010 shares during the quarter. Lord Abbett & CO. LLC owned 1.86% of The Shyft Group worth $25,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Group Holdings Inc. increased its stake in The Shyft Group by 11.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,667 shares of the company’s stock worth $100,000 after acquiring an additional 280 shares during the period. Envestnet Asset Management Inc. lifted its position in The Shyft Group by 26.0% during the second quarter. Envestnet Asset Management Inc. now owns 7,872 shares of the company’s stock worth $294,000 after purchasing an additional 1,622 shares during the period. US Bancorp DE grew its stake in The Shyft Group by 54.1% during the second quarter. US Bancorp DE now owns 3,245 shares of the company’s stock worth $122,000 after buying an additional 1,139 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in The Shyft Group by 43.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,149 shares of the company’s stock valued at $155,000 after buying an additional 1,256 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of The Shyft Group in the 2nd quarter valued at approximately $798,000. 81.37% of the stock is owned by hedge funds and other institutional investors.

SHYF has been the subject of several research analyst reports. DA Davidson boosted their price objective on shares of The Shyft Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 5th. Zacks Investment Research downgraded The Shyft Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 6th.

In other The Shyft Group news, Director Ronald Edward Harbour sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $49.40, for a total value of $988,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daryl M. Adams sold 15,000 shares of The Shyft Group stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $705,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $2,463,700. 2.88% of the stock is currently owned by insiders.

The Shyft Group stock opened at $47.00 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of 30.32, a P/E/G ratio of 0.74 and a beta of 1.49. The stock’s 50 day moving average is $49.37 and its 200 day moving average is $43.44. The Shyft Group, Inc. has a one year low of $28.97 and a one year high of $54.50.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, November 4th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.09. The business had revenue of $272.60 million during the quarter, compared to the consensus estimate of $247.60 million. The Shyft Group had a return on equity of 26.54% and a net margin of 6.33%. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, analysts predict that The Shyft Group, Inc. will post 1.82 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Tuesday, November 16th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Monday, November 15th. The Shyft Group’s dividend payout ratio is currently 6.45%.

The Shyft Group Profile

The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.

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Institutional Ownership by Quarter for The Shyft Group (NASDAQ:SHYF)

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