Rush Enterprises, Inc. (NASDAQ:RUSHA) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,191 shares of the company's stock after selling 26,912 shares during the period. Bank of New York Mellon Corp owned about 0.75% of Rush Enterprises worth $31,896,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RUSHA. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Rush Enterprises in the 4th quarter valued at approximately $10,628,000. Norges Bank purchased a new stake in shares of Rush Enterprises in the 4th quarter valued at approximately $10,127,000. Raymond James Financial Inc. purchased a new stake in shares of Rush Enterprises in the 4th quarter valued at approximately $9,822,000. Millennium Management LLC increased its position in shares of Rush Enterprises by 116.5% in the 4th quarter. Millennium Management LLC now owns 299,038 shares of the company's stock valued at $16,384,000 after purchasing an additional 160,922 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in shares of Rush Enterprises by 35.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company's stock valued at $25,689,000 after purchasing an additional 121,577 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Price Performance

NASDAQ:RUSHA traded down $1.98 during mid-day trading on Friday, hitting $50.67. 438,852 shares of the company's stock traded hands, compared to its average volume of 401,983. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. The firm's 50 day simple moving average is $51.31 and its 200 day simple moving average is $53.94. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The company has a market cap of $3.94 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. Rush Enterprises's dividend payout ratio (DPR) is 20.11%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stephens dropped their target price on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th.

Insider Buying and Selling

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $52.10, for a total transaction of $234,450.00. Following the transaction, the senior vice president directly owned 12,510 shares of the company's stock, valued at $651,771. The trade was a 26.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jason Wilder sold 748 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the transaction, the chief operating officer directly owned 84,672 shares in the company, valued at approximately $4,748,405.76. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,731 shares of company stock worth $303,634. 12.28% of the stock is currently owned by corporate insiders.

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.