Rush Enterprises, Inc. $RUSHA Holdings Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its holdings in Rush Enterprises, acquiring an additional 20,684 shares, raising its total stake by 530.8% to 24,581 shares valued at approximately $1.31 million.
• Rush Enterprises recently announced a quarterly dividend increase from $0.18 to $0.19 per share, representing an annualized yield of 1.3% and a dividend payout ratio of 21.65%.
• Despite the increase in dividends, Wall Street Zen downgraded Rush Enterprises from a "buy" to a "hold" rating, while analysts maintain a consensus target price of $61.00 for the stock.

Acadian Asset Management LLC boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 530.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,581 shares of the company's stock after purchasing an additional 20,684 shares during the quarter. Acadian Asset Management LLC's holdings in Rush Enterprises were worth $1,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RUSHA. Caitong International Asset Management Co. Ltd raised its position in Rush Enterprises by 82.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after purchasing an additional 217 shares during the last quarter. AlphaQuest LLC purchased a new position in Rush Enterprises during the 1st quarter worth $30,000. Smartleaf Asset Management LLC raised its position in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after buying an additional 227 shares during the last quarter. GAMMA Investing LLC raised its position in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after buying an additional 288 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Rush Enterprises during the 1st quarter worth $207,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Performance

Rush Enterprises stock traded down $0.11 during mid-day trading on Friday, reaching $57.02. The company's stock had a trading volume of 1,532,461 shares, compared to its average volume of 309,723. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.61 and a beta of 0.88. The business has a 50 day moving average price of $55.83 and a 200-day moving average price of $53.16. 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 twelve month low of $47.06 and a twelve month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The firm 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 predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were issued a $0.19 dividend. 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 yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. Rush Enterprises's dividend payout ratio is presently 21.65%.

Analysts Set New Price Targets

RUSHA has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Rush Enterprises currently has an average rating of "Buy" and an average price target of $61.00.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares in the company, valued at approximately $4,426,890.60. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the sale, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by insiders.

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.