Isthmus Partners LLC Purchases 4,579 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Isthmus Partners LLC lifted its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,581 shares of the company’s stock after purchasing an additional 4,579 shares during the period. The Shyft Group accounts for approximately 1.1% of Isthmus Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Isthmus Partners LLC owned approximately 0.72% of The Shyft Group worth $2,948,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. First Hawaiian Bank bought a new position in The Shyft Group during the 2nd quarter worth $542,000. Charles Schwab Investment Management Inc. increased its stake in shares of The Shyft Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock valued at $6,284,000 after purchasing an additional 69,264 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of The Shyft Group by 36.1% in the 1st quarter. Acadian Asset Management LLC now owns 322,654 shares of the company’s stock valued at $4,005,000 after purchasing an additional 85,594 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of The Shyft Group by 101.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock valued at $6,544,000 after purchasing an additional 270,284 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new position in shares of The Shyft Group in the 1st quarter valued at $4,070,000. Institutional investors own 85.84% of the company’s stock.

The Shyft Group Trading Down 4.9 %

Shares of SHYF traded down $0.64 during midday trading on Friday, hitting $12.39. The company’s stock had a trading volume of 160,174 shares, compared to its average volume of 272,042. The Shyft Group, Inc. has a one year low of $9.81 and a one year high of $17.56. The company’s fifty day simple moving average is $12.96 and its two-hundred day simple moving average is $12.16. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The company had revenue of $192.80 million for the quarter, compared to the consensus estimate of $201.49 million. During the same quarter last year, the business posted $0.22 EPS. The Shyft Group’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts predict that The Shyft Group, Inc. will post 0.29 EPS for the current year.

The Shyft Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, August 16th. The Shyft Group’s dividend payout ratio (DPR) is -2,000.00%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $18.00 in a research note on Monday, July 29th.

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.