Voya Investment Management LLC Sells 105,731 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Voya Investment Management LLC decreased its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 32.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,128 shares of the company’s stock after selling 105,731 shares during the quarter. Voya Investment Management LLC owned 0.63% of The Shyft Group worth $2,549,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SHYF. Murphy & Mullick Capital Management Corp bought a new position in The Shyft Group in the 4th quarter valued at approximately $41,000. Quantbot Technologies LP bought a new stake in The Shyft Group in the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC raised its position in shares of The Shyft Group by 77.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company’s stock worth $52,000 after purchasing an additional 1,919 shares during the period. Zacks Investment Management bought a new position in shares of The Shyft Group in the fourth quarter valued at $138,000. Finally, Raymond James Financial Inc. acquired a new position in The Shyft Group during the 4th quarter valued at about $209,000. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, January 15th.

The Shyft Group Stock Performance

Shares of SHYF stock opened at $9.16 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The firm has a market cap of $319.98 million, a price-to-earnings ratio of -101.77 and a beta of 1.83. The Shyft Group, Inc. has a 52 week low of $6.82 and a 52 week high of $17.56. The firm’s 50-day simple moving average is $8.60 and its two-hundred day simple moving average is $11.17.

The Shyft Group (NASDAQ:SHYF) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The firm had revenue of $201.43 million for the quarter, compared to analysts’ expectations of $211.90 million. The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. As a group, equities analysts forecast that The Shyft Group, Inc. will post 0.68 earnings per share for the current year.

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.18%. The Shyft Group’s payout ratio is 2,000.00%.

The Shyft Group 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.