The Shyft Group (NASDAQ:SHYF) Trading 17.1% Higher – What’s Next?

Shares of The Shyft Group, Inc. (NASDAQ:SHYF) shot up 17.1% on Monday . The company traded as high as $15.02 and last traded at $14.90. 238,984 shares were traded during mid-day trading, a decline of 18% from the average session volume of 292,327 shares. The stock had previously closed at $12.72.

The Shyft Group Trading Up 13.4 %

The business’s 50-day moving average price is $13.17 and its 200 day moving average price is $12.87. The company has a market cap of $497.35 million, a P/E ratio of -114.50 and a beta of 1.63. 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 Shyft Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.39%. The Shyft Group’s dividend payout ratio (DPR) is -166.67%.

Hedge Funds Weigh In On The Shyft Group

Institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of The Shyft Group during the second quarter worth $26,000. CWM LLC increased its stake in shares of The Shyft Group by 260.9% in the second quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after buying an additional 3,420 shares during the period. Point72 Asset Management L.P. acquired a new stake in The Shyft Group during the 2nd quarter worth approximately $59,000. Point72 DIFC Ltd bought a new stake in The Shyft Group during the 2nd quarter worth approximately $60,000. Finally, National Bank of Canada FI increased its position in The Shyft Group by 6,784.7% in the 2nd quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after acquiring an additional 5,767 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

About The Shyft Group

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.