The Shyft Group (NASDAQ:SHYF) Shares Up 17.1% – Still a Buy?

Shares of The Shyft Group, Inc. (NASDAQ:SHYF) shot up 17.1% during trading on Monday . The stock traded as high as $15.02 and last traded at $14.90. 238,984 shares were traded during mid-day trading, a decline of 18% from the average session volume of 292,327 shares. The stock had previously closed at $12.72.

The Shyft Group Price Performance

The firm has a market cap of $497.35 million, a P/E ratio of -114.50 and a beta of 1.63. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $13.17 and its two-hundred day moving average is $12.87.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.05 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. The Shyft Group’s dividend payout ratio is presently -166.67%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Pzena Investment Management LLC boosted its stake in shares of The Shyft Group by 889.8% in the 2nd quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company’s stock worth $38,472,000 after buying an additional 2,916,101 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in The Shyft Group in the 3rd quarter worth approximately $2,292,000. Federated Hermes Inc. grew its position in shares of The Shyft Group by 15.6% during the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after purchasing an additional 89,951 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of 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 worth $7,081,000 after buying an additional 78,550 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in The Shyft Group by 31.9% during the second quarter. Foundry Partners LLC now owns 319,640 shares of the company’s stock valued at $3,791,000 after purchasing an additional 77,225 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

About The Shyft Group

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.