Contravisory Investment Management Inc. Decreases Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Contravisory Investment Management Inc. reduced its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,569 shares of the company’s stock after selling 343 shares during the period. Contravisory Investment Management Inc.’s holdings in The Shyft Group were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hillcrest Asset Management LLC purchased a new position in shares of The Shyft Group during the third quarter valued at approximately $6,071,000. Charles Schwab Investment Management Inc. boosted its holdings in The Shyft Group by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 214,545 shares of the company’s stock worth $4,051,000 after acquiring an additional 65,366 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in The Shyft Group by 4.5% in the third quarter. UBS Asset Management Americas Inc. now owns 34,825 shares of the company’s stock worth $657,000 after acquiring an additional 1,500 shares in the last quarter. Walthausen & Co. LLC bought a new position in shares of The Shyft Group during the third quarter valued at $3,187,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of The Shyft Group by 98.4% during the third quarter. Lord Abbett & CO. LLC now owns 372,808 shares of the company’s stock valued at $7,039,000 after purchasing an additional 184,899 shares in the last quarter. 74.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. Colliers Securities upped their price objective on The Shyft Group from $25.00 to $35.00 in a research report on Tuesday, January 5th. BidaskClub upgraded The Shyft Group from a “hold” rating to a “buy” rating in a report on Tuesday, December 8th. ValuEngine upgraded The Shyft Group from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. Raymond James started coverage on The Shyft Group in a report on Wednesday, December 16th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research downgraded The Shyft Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 6th.

The Shyft Group stock opened at $30.48 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.03 and a quick ratio of 1.41. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -98.32, a PEG ratio of 0.99 and a beta of 1.43. The Shyft Group, Inc. has a 1-year low of $9.01 and a 1-year high of $31.86. The business has a fifty day moving average price of $27.88 and a 200-day moving average price of $21.77.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.23. The Shyft Group had a positive return on equity of 23.59% and a negative net margin of 1.43%. The firm had revenue of $203.50 million during the quarter, compared to analysts’ expectations of $191.73 million. The company’s revenue was down 29.6% compared to the same quarter last year. On average, equities research analysts anticipate that The Shyft Group, Inc. will post 1.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Wednesday, November 18th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, November 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.33%. The Shyft Group’s dividend payout ratio is currently 8.06%.

About The Shyft Group

The Shyft Group, Inc, through its subsidiary Spartan Motors USA, Inc, manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates through two segments, Fleet Vehicles and Services (FVS), and Specialty Chassis and Vehicles (SCV).

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

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