American Century Companies Inc. Buys 106,991 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• American Century Companies Inc. increased its stake in Rush Enterprises by 423.4% in Q1, holding 132,259 shares valued at approximately $7.06 million.
• Rush Enterprises recently announced a quarterly dividend increase to $0.19 per share, representing a yield of 1.3% and a payout ratio of 21.65%.
• Analysts have mixed views on Rush Enterprises, with an average rating of "Buy" and a target price of $61.00, while recent reports have seen a downgrade from "buy" to "hold."

American Century Companies Inc. lifted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 423.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,259 shares of the company's stock after buying an additional 106,991 shares during the period. American Century Companies Inc. owned approximately 0.17% of Rush Enterprises worth $7,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rush Enterprises by 6.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock worth $69,552,000 after acquiring an additional 79,499 shares during the period. Jennison Associates LLC grew its position in Rush Enterprises by 73.3% in the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after purchasing an additional 373,531 shares during the period. Global Alpha Capital Management Ltd. grew its position in Rush Enterprises by 2.3% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 807,290 shares of the company's stock worth $43,117,000 after purchasing an additional 18,100 shares during the period. Northern Trust Corp raised its stake in Rush Enterprises by 5.9% during the 4th quarter. Northern Trust Corp now owns 785,283 shares of the company's stock valued at $43,026,000 after buying an additional 43,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rush Enterprises by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 750,974 shares of the company's stock valued at $40,110,000 after buying an additional 7,979 shares during the period. Institutional investors own 84.43% of the company's stock.

Insider Buying and Selling

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares in the company, valued at $716,197.50. This represents a 26.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the sale, the chief operating officer owned 79,692 shares in the company, valued at approximately $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RUSHA. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $61.00.

Rush Enterprises Stock Performance

NASDAQ RUSHA traded down $0.49 on Friday, hitting $57.40. 230,994 shares of the company traded hands, compared to its average volume of 325,211. The business's 50 day moving average price is $54.58 and its 200-day moving average price is $53.33. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.63 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Equities analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, August 12th. Rush Enterprises's dividend payout ratio is currently 21.65%.

Rush Enterprises Profile

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.