Rush Enterprises (NASDAQ:RUSHA) Reaches New 12-Month High After Dividend Announcement

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $65.43 and last traded at $61.99, with a volume of 636434 shares. The stock had previously closed at $61.17.

The newly announced dividend which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. Rush Enterprises’s payout ratio is 19.30%.

Wall Street Analyst Weigh In

Separately, Stephens restated an “overweight” rating and issued a $69.00 target price on shares of Rush Enterprises in a report on Wednesday.

Rush Enterprises Trading Down 4.4 %

The firm has a market capitalization of $4.40 billion, a P/E ratio of 14.94, a PEG ratio of 2.48 and a beta of 1.02. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $58.16 and a 200-day moving average price of $56.02.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 4,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $58.52, for a total transaction of $234,080.00. Following the sale, the director now owns 15,771 shares in the company, valued at approximately $922,918.92. This represents a 20.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.53% of the company’s stock.

Institutional Trading of Rush Enterprises

Several large investors have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Rush Enterprises by 34.8% during the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after purchasing an additional 1,336,528 shares during the last quarter. State Street Corp grew its holdings in shares of Rush Enterprises by 0.7% during the third quarter. State Street Corp now owns 2,349,597 shares of the company’s stock worth $124,129,000 after purchasing an additional 16,082 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rush Enterprises by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock worth $85,390,000 after purchasing an additional 16,803 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rush Enterprises by 3.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,222,719 shares of the company’s stock worth $66,993,000 after purchasing an additional 36,326 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its holdings in shares of Rush Enterprises by 0.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company’s stock worth $58,821,000 after purchasing an additional 5,823 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.