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Cooke & Bieler LP Sells 333,428 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Rush Enterprises logo with Retail/Wholesale background

Cooke & Bieler LP lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 35.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 608,137 shares of the company's stock after selling 333,428 shares during the period. Cooke & Bieler LP owned 0.77% of Rush Enterprises worth $32,481,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rush Enterprises in the fourth quarter valued at about $10,628,000. Norges Bank bought a new position in Rush Enterprises in the fourth quarter valued at about $10,127,000. Raymond James Financial Inc. bought a new position in Rush Enterprises in the fourth quarter valued at about $9,822,000. Millennium Management LLC boosted its holdings in Rush Enterprises by 116.5% in the fourth quarter. Millennium Management LLC now owns 299,038 shares of the company's stock valued at $16,384,000 after acquiring an additional 160,922 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Rush Enterprises by 35.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company's stock valued at $25,689,000 after buying an additional 121,577 shares during the period. Institutional investors own 84.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RUSHA shares. Stephens cut their target price on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday.

Get Our Latest Research Report on RUSHA

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of Rush Enterprises stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the transaction, the chief operating officer directly owned 84,672 shares of the company's stock, valued at $4,748,405.76. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $52.10, for a total value 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. This trade represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,731 shares of company stock valued at $303,634 over the last ninety days. Insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA traded up $0.53 during midday trading on Thursday, hitting $52.65. 375,768 shares of the company's stock were exchanged, compared to its average volume of 401,849. The company's 50 day moving average price is $51.26 and its 200 day moving average price is $53.97. The firm has a market capitalization of $4.10 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.47 and a beta of 0.88. Rush Enterprises, Inc. has a 12 month low of $46.30 and a 12 month high of $65.43. The company has a quick ratio of 0.32, a current ratio of 1.44 and a debt-to-equity ratio of 0.22.

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

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.18 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.72 annualized dividend and a yield of 1.37%. Rush Enterprises's dividend payout ratio is presently 20.11%.

Rush Enterprises Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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