73,983 Shares in The Shyft Group, Inc. (NASDAQ:SHYF) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE purchased a new position in shares of The Shyft Group, Inc. (NASDAQ:SHYFGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,983 shares of the company’s stock, valued at approximately $3,636,000. Congress Wealth Management LLC DE owned about 0.21% of The Shyft Group at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS Group AG increased its stake in The Shyft Group by 46.8% during the third quarter. UBS Group AG now owns 916 shares of the company’s stock worth $35,000 after acquiring an additional 292 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of The Shyft Group in the third quarter valued at about $104,000. US Bancorp DE grew its stake in shares of The Shyft Group by 9.5% in the third quarter. US Bancorp DE now owns 3,554 shares of the company’s stock valued at $135,000 after buying an additional 309 shares in the last quarter. Citigroup Inc. grew its stake in shares of The Shyft Group by 102.7% in the third quarter. Citigroup Inc. now owns 4,523 shares of the company’s stock valued at $172,000 after buying an additional 2,292 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of The Shyft Group by 10.2% in the third quarter. PNC Financial Services Group Inc. now owns 4,574 shares of the company’s stock valued at $174,000 after buying an additional 425 shares in the last quarter. Institutional investors own 82.16% of the company’s stock.

Shares of NASDAQ SHYF traded down $1.04 during mid-day trading on Friday, hitting $29.41. The company had a trading volume of 418,915 shares, compared to its average volume of 306,847. The firm has a market cap of $1.03 billion, a PE ratio of 15.48 and a beta of 1.58. The Shyft Group, Inc. has a 12 month low of $29.09 and a 12 month high of $54.50. The firm’s 50 day simple moving average is $38.87.

The Shyft Group (NASDAQ:SHYFGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $277.30 million for the quarter, compared to the consensus estimate of $232.48 million. The Shyft Group had a return on equity of 28.57% and a net margin of 6.95%. The business’s revenue was up 61.6% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, analysts forecast that The Shyft Group, Inc. will post 1.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Thursday, February 17th were issued a $0.05 dividend. This is an increase from The Shyft Group’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The Shyft Group’s dividend payout ratio (DPR) is 10.53%.

A number of brokerages recently commented on SHYF. Zacks Investment Research downgraded The Shyft Group from a “hold” rating to a “sell” rating in a report on Thursday, March 3rd. DA Davidson downgraded The Shyft Group from a “buy” rating to a “neutral” rating in a report on Wednesday, April 6th. Finally, Raymond James raised The Shyft Group from an “outperform” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a report on Friday, February 25th.

In related news, Director Thomas R. Clevinger sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $39.27, for a total value of $196,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.88% of the company’s stock.

About The Shyft Group (Get Rating)

The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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.

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

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