Olstein Capital Management L.P. Sells 2,201 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Olstein Capital Management L.P. decreased its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,799 shares of the company’s stock after selling 2,201 shares during the period. Olstein Capital Management L.P. owned approximately 0.65% of The Shyft Group worth $1,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of The Shyft Group by 60.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,240,017 shares of the company’s stock worth $38,038,000 after purchasing an additional 1,216,701 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in The Shyft Group during the fourth quarter worth approximately $8,789,000. Manatuck Hill Partners LLC increased its stake in The Shyft Group by 183.3% during the 4th quarter. Manatuck Hill Partners LLC now owns 425,000 shares of the company’s stock worth $4,990,000 after acquiring an additional 275,000 shares during the period. Royce & Associates LP raised its holdings in The Shyft Group by 21.4% in the 4th quarter. Royce & Associates LP now owns 1,156,776 shares of the company’s stock valued at $13,581,000 after acquiring an additional 203,758 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in The Shyft Group by 30.3% in the 4th quarter. Nuveen Asset Management LLC now owns 496,516 shares of the company’s stock valued at $5,829,000 after acquiring an additional 115,430 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

The Shyft Group Stock Up 2.9%

Shares of NASDAQ SHYF opened at $11.29 on Monday. The stock has a market capitalization of $395.26 million, a P/E ratio of -125.43 and a beta of 1.94. The stock’s fifty day moving average is $9.00 and its 200 day moving average is $10.55. The Shyft Group, Inc. has a 52 week low of $6.82 and a 52 week high of $17.56. 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, June 16th. Shareholders of record on Friday, May 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.20 annualized dividend and a yield of 1.77%. The Shyft Group’s dividend payout ratio is currently 2,000.00%.

The Shyft Group 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.