Denali Advisors LLC Buys 11,808 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Denali Advisors LLC increased its holdings in Rush Enterprises by 9.8%, acquiring an additional 11,808 shares during the 2nd quarter, bringing its total ownership to 131,737 shares valued at approximately $6.79 million.
• Rush Enterprises recently announced a quarterly dividend increase to $0.19 per share, up from $0.18, resulting in an annualized dividend yield of 1.5%.
• Brokerages have mixed ratings on Rush Enterprises, with one upgrading the stock to "overweight" while another downgraded it from "buy" to "hold," indicating varied market sentiment.

Denali Advisors LLC boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,737 shares of the company's stock after acquiring an additional 11,808 shares during the quarter. Denali Advisors LLC owned 0.17% of Rush Enterprises worth $6,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Rush Enterprises by 1.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,218,650 shares of the company's stock worth $118,499,000 after purchasing an additional 41,407 shares in the last quarter. Jennison Associates LLC lifted its stake in Rush Enterprises by 73.3% in the first 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 last quarter. Northern Trust Corp increased its position in shares of Rush Enterprises by 12.0% during the first quarter. Northern Trust Corp now owns 879,554 shares of the company's stock worth $46,977,000 after acquiring an additional 94,271 shares during the period. Global Alpha Capital Management Ltd. increased its position in shares of Rush Enterprises by 2.3% during the first quarter. Global Alpha Capital Management Ltd. now owns 807,290 shares of the company's stock worth $43,117,000 after acquiring an additional 18,100 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Rush Enterprises by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 750,974 shares of the company's stock worth $40,110,000 after acquiring an additional 7,979 shares during the period. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Stock Up 0.8%

RUSHA opened at $51.47 on Wednesday. Rush Enterprises, Inc. has a fifty-two week low of $47.06 and a fifty-two week high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The company has a fifty day moving average of $55.33 and a two-hundred day moving average of $52.98. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.46 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.23 billion during the quarter. On average, research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 12th. Rush Enterprises's dividend payout ratio is presently 21.65%.

Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.64, for a total transaction of $327,840.00. Following the completion of the sale, the director owned 15,771 shares of the company's stock, valued at $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares of the company's stock, valued at $4,426,890.60. This represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,480 shares of company stock valued at $862,104 over the last 90 days. Corporate insiders own 12.28% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RUSHA. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Rush Enterprises in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $61.00.

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.

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