Voya Investment Management LLC Trims Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Voya Investment Management LLC lessened its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,128 shares of the company’s stock after selling 105,731 shares during the period. Voya Investment Management LLC’s holdings in The Shyft Group were worth $2,549,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, January 15th.

The Shyft Group Trading Up 4.8 %

Shares of NASDAQ SHYF opened at $9.16 on Friday. The Shyft Group, Inc. has a 1 year low of $6.82 and a 1 year high of $17.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The firm has a 50-day moving average of $8.60 and a 200 day moving average of $11.17. The stock has a market cap of $319.98 million, a P/E ratio of -101.77 and a beta of 1.83.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.09). The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. The company had revenue of $201.43 million during the quarter, compared to the consensus estimate of $211.90 million. As a group, sell-side analysts expect that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Announces Dividend

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

The Shyft Group Company 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.