Olstein Capital Management L.P. Has $3.54 Million Stock Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Olstein Capital Management L.P. lifted its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 16.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 285,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Olstein Capital Management L.P. owned about 0.83% of The Shyft Group worth $3,540,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of The Shyft Group by 15.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock worth $6,284,000 after buying an additional 69,264 shares during the last quarter. PNC Financial Services Group Inc. increased its position in The Shyft Group by 101.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after acquiring an additional 270,284 shares during the period. Vanguard Group Inc. increased its position in The Shyft Group by 1.6% during the third quarter. Vanguard Group Inc. now owns 1,739,076 shares of the company’s stock worth $26,034,000 after acquiring an additional 28,179 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in The Shyft Group during the third quarter worth about $4,292,000. Finally, Federated Hermes Inc. bought a new position in The Shyft Group during the fourth quarter worth about $1,236,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

The Shyft Group Stock Performance

NASDAQ:SHYF traded up $0.30 during mid-day trading on Wednesday, reaching $11.44. 226,245 shares of the company’s stock were exchanged, compared to its average volume of 291,360. The Shyft Group, Inc. has a one year low of $9.81 and a one year high of $22.72. The firm has a market capitalization of $393.19 million, a PE ratio of -1,158.00 and a beta of 1.66. The business’s fifty day simple moving average is $12.19 and its two-hundred day simple moving average is $11.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.12 and a current ratio of 1.77.

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

The Shyft Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.20 annualized dividend and a yield of 1.75%. The Shyft Group’s dividend payout ratio is presently -2,000.00%.

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.