Beck Mack & Oliver LLC Decreases Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• Beck Mack & Oliver LLC decreased its holdings in Rush Enterprises, Inc. by 4.6%, selling 49,805 shares, while retaining 1,023,762 shares in total.
• Rush Enterprises is set to pay a quarterly dividend of $0.19 per share, reflecting a positive increase from the previous dividend of $0.18.
• Analysts currently have a consensus rating of "Buy" for Rush Enterprises, with a target price of $61.00 per share.

Beck Mack & Oliver LLC cut its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,023,762 shares of the company's stock after selling 49,805 shares during the quarter. Rush Enterprises makes up about 1.1% of Beck Mack & Oliver LLC's holdings, making the stock its 27th biggest position. Beck Mack & Oliver LLC owned about 1.29% of Rush Enterprises worth $54,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. State of Wyoming raised its holdings in shares of Rush Enterprises by 5.0% during the first quarter. State of Wyoming now owns 4,511 shares of the company's stock worth $241,000 after acquiring an additional 213 shares during the period. Trexquant Investment LP raised its position in shares of Rush Enterprises by 1,331.1% in the 1st quarter. Trexquant Investment LP now owns 57,329 shares of the company's stock valued at $3,062,000 after buying an additional 53,323 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Rush Enterprises by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 42,676 shares of the company's stock worth $2,279,000 after purchasing an additional 951 shares in the last quarter. Keeley Teton Advisors LLC boosted its stake in shares of Rush Enterprises by 36.4% in the 1st quarter. Keeley Teton Advisors LLC now owns 29,010 shares of the company's stock valued at $1,549,000 after purchasing an additional 7,739 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in Rush Enterprises by 109.8% during the first quarter. Epoch Investment Partners Inc. now owns 15,774 shares of the company's stock worth $842,000 after acquiring an additional 8,256 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director directly owned 15,771 shares in the company, valued at $861,727.44. The trade was a 27.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction 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 transaction, the senior vice president directly owned 12,510 shares of the company's stock, valued at $716,197.50. This trade represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock worth $862,104 over the last 90 days. Insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

Shares of RUSHA stock traded down $0.25 during mid-day trading on Friday, hitting $58.27. The stock had a trading volume of 125,392 shares, compared to its average volume of 410,901. The firm has a market cap of $4.53 billion, a PE ratio of 16.61, a PEG ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. Rush Enterprises, Inc. has a fifty-two week low of $46.30 and a fifty-two week high of $65.43. The company's 50-day simple moving average is $55.11 and its 200-day simple moving average is $53.27.

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, beating analysts' consensus estimates of $0.80 by $0.10. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. Sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RUSHA. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $61.00.

Rush Enterprises Company 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.