The Shyft Group, Inc. (NASDAQ:SHYF) CEO Daryl M. Adams sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $38.21, for a total transaction of $573,150.00. Following the completion of the transaction, the chief executive officer now owns 419,237 shares of the company’s stock, valued at $16,019,045.77. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of The Shyft Group stock opened at $37.09 on Thursday. The firm has a market capitalization of $1.31 billion, a PE ratio of -463.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The company has a current ratio of 1.96, a quick ratio of 1.57 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $37.38 and its 200 day moving average is $31.95. The Shyft Group, Inc. has a 1 year low of $14.70 and a 1 year high of $43.75.
The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The Shyft Group had a negative net margin of 0.39% and a positive return on equity of 28.06%. The company had revenue of $197.89 million for the quarter, compared to analyst estimates of $192.66 million. The Shyft Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate that The Shyft Group, Inc. will post 1.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Tuesday, May 18th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Monday, May 17th. The Shyft Group’s payout ratio is 8.06%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in The Shyft Group by 1.0% during the 4th quarter. Federated Hermes Inc. now owns 32,987 shares of the company’s stock worth $936,000 after acquiring an additional 336 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in The Shyft Group by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 20,903 shares of the company’s stock worth $593,000 after acquiring an additional 491 shares during the last quarter. Swiss National Bank grew its holdings in The Shyft Group by 1.0% during the 4th quarter. Swiss National Bank now owns 72,400 shares of the company’s stock worth $2,055,000 after acquiring an additional 700 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in The Shyft Group by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 39,252 shares of the company’s stock worth $1,460,000 after acquiring an additional 707 shares during the last quarter. Finally, Dorsey Wright & Associates grew its holdings in The Shyft Group by 135.7% during the 1st quarter. Dorsey Wright & Associates now owns 1,308 shares of the company’s stock worth $49,000 after acquiring an additional 753 shares during the last quarter. 75.15% of the stock is currently owned by hedge funds and other institutional investors.
SHYF has been the topic of several research reports. Raymond James lifted their price target on shares of The Shyft Group from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, March 18th. Zacks Investment Research raised shares of The Shyft Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Thursday.
The Shyft Group Company Profile
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. The company's Fleet Vehicles and Services segment manufactures and sells commercial vehicles that are used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
Recommended Story: How does the Beige Book influence monetary policy?