Centaurus Financial Inc. Lowers Stake in The Shyft Group, Inc. (NASDAQ:SHYF)

Centaurus Financial Inc. cut its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 444,671 shares of the company’s stock after selling 66,046 shares during the quarter. Centaurus Financial Inc. owned approximately 1.30% of The Shyft Group worth $5,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its position in shares of The Shyft Group by 1.4% in the third quarter. Swiss National Bank now owns 72,900 shares of the company’s stock worth $1,091,000 after acquiring an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Shyft Group by 31.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,978 shares of the company’s stock worth $134,000 after acquiring an additional 2,605 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of The Shyft Group by 28.4% in the third quarter. Principal Financial Group Inc. now owns 13,074 shares of the company’s stock worth $196,000 after acquiring an additional 2,888 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of The Shyft Group by 36.2% in the third quarter. Quadrature Capital Ltd now owns 31,789 shares of the company’s stock worth $476,000 after acquiring an additional 8,443 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of The Shyft Group in the fourth quarter worth approximately $124,000. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

The Shyft Group Trading Down 2.6 %

SHYF stock traded down $0.32 during midday trading on Friday, reaching $12.00. 410,146 shares of the company’s stock traded hands, compared to its average volume of 279,215. The company has a market capitalization of $412.44 million, a P/E ratio of -1,200.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.12. The Shyft Group, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $24.64. The business has a 50-day moving average price of $12.06 and a two-hundred day moving average price of $11.65.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. The firm had revenue of $197.89 million for the quarter, compared to analysts’ expectations of $183.90 million. The Shyft Group had a net margin of 0.01% and a return on equity of 2.76%. Equities research analysts forecast that The Shyft Group, Inc. will post 0.26 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The Shyft Group’s payout ratio is currently -2,000.00%.

Analysts Set New Price Targets

Separately, DA Davidson reduced their price target on shares of The Shyft Group from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th.

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.