Jacobs Levy Equity Management Inc. Purchases 78,550 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Jacobs Levy Equity Management Inc. raised its holdings in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,242 shares of the company’s stock after purchasing an additional 78,550 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in The Shyft Group were worth $7,081,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of The Shyft Group during the second quarter valued at $26,000. CWM LLC grew its holdings in 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 purchasing an additional 3,420 shares during the period. Point72 Asset Management L.P. purchased a new stake in The Shyft Group in the 2nd quarter worth $59,000. Point72 DIFC Ltd acquired a new position in shares of The Shyft Group during the 2nd quarter worth about $60,000. Finally, National Bank of Canada FI raised its holdings in shares of The Shyft Group by 6,784.7% during the second 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 last quarter. 85.84% of the stock is currently owned by institutional investors.

The Shyft Group Stock Down 1.3 %

Shares of NASDAQ SHYF opened at $13.18 on Friday. The company has a 50-day moving average of $13.10 and a 200 day moving average of $12.85. The stock has a market cap of $454.63 million, a PE ratio of -109.83 and a beta of 1.63. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The Shyft Group, Inc. has a 12-month low of $9.81 and a 12-month high of $17.56.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, November 15th. The Shyft Group’s dividend payout ratio is presently -166.67%.

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.