Hotchkis & Wiley Capital Management LLC Sells 30,149 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Rush Enterprises by 4.9%, selling 30,149 shares and retaining approximately 0.74% of the company, valued at $31.25 million.
• Rush Enterprises recently announced an increase in its quarterly dividend from $0.18 to $0.19 per share, with a dividend yield of 1.3%.
• Wall Street analysts maintain a consensus "Buy" rating for Rush Enterprises, with an average price target of $61.00.

Hotchkis & Wiley Capital Management LLC cut its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,130 shares of the company's stock after selling 30,149 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.74% of Rush Enterprises worth $31,252,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Rush Enterprises by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 310,294 shares of the company's stock valued at $16,573,000 after purchasing an additional 8,106 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Rush Enterprises by 6.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company's stock valued at $5,427,000 after purchasing an additional 6,210 shares during the period. Bridges Investment Management Inc. boosted its stake in Rush Enterprises by 111.3% in the 1st quarter. Bridges Investment Management Inc. now owns 35,749 shares of the company's stock valued at $1,909,000 after purchasing an additional 18,831 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Rush Enterprises by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company's stock valued at $2,315,000 after purchasing an additional 2,131 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Rush Enterprises in the 1st quarter valued at $1,087,000. 84.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the sale, the senior vice president owned 12,510 shares of the company's stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $54.64, for a total transaction of $327,840.00. Following the transaction, the director directly owned 15,771 shares of the company's stock, valued at $861,727.44. The trade was a 27.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,480 shares of company stock valued at $862,104. 12.28% of the stock is currently owned by insiders.

Rush Enterprises Price Performance

NASDAQ RUSHA traded down $0.40 on Friday, hitting $57.49. 57,775 shares of the company's stock were exchanged, compared to its average volume of 414,867. The stock has a 50-day moving average of $54.43 and a 200-day moving average of $53.34. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 52 week low of $46.30 and a 52 week high of $65.43. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.66 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. 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 will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is a boost 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 1.3%. Rush Enterprises's payout ratio is presently 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.