Rush Enterprises, Inc. (NASDAQ:RUSHA) to Issue Dividend Increase - $0.19 Per Share

Key Points

• Rush Enterprises, Inc. has declared a quarterly dividend of $0.19 per share, marking a 5.6% increase from the previous dividend of $0.18.
• The company has a dividend payout ratio of 17.3%, indicating that its dividend is well-supported by earnings.
• Rush Enterprises' stock has experienced significant trading activity, with a recent price of $54.14 and a market cap of $4.21 billion.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, Wall Street Journal reports. Investors of record on Tuesday, August 12th will be given a dividend of 0.19 per share on Friday, September 12th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 12th. This is a 5.6% increase from Rush Enterprises's previous quarterly dividend of $0.18.

Rush Enterprises has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rush Enterprises to earn $4.93 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 14.6%.

Rush Enterprises Price Performance

NASDAQ:RUSHA traded up $1.15 during trading hours on Monday, hitting $54.70. The company's stock had a trading volume of 27,454 shares, compared to its average volume of 428,752. The stock has a fifty day simple moving average of $51.85 and a 200-day simple moving average of $53.72. The company has a market capitalization of $4.26 billion, a P/E ratio of 15.55, a PEG ratio of 1.51 and a beta of 0.85. 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 has a twelve month low of $46.30 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 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. On average, analysts anticipate that Rush Enterprises will post 3.91 EPS for the current fiscal year.

Insider Transactions at Rush Enterprises

In other news, COO Jason Wilder sold 748 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer directly owned 84,672 shares in the company, valued at $4,748,405.76. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction dated 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 owned 12,510 shares of the company's stock, valued at $651,771. This trade represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock valued at $303,634 over the last 90 days. 12.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after acquiring an additional 217 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Rush Enterprises during the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Rush Enterprises by 26.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock valued at $58,000 after acquiring an additional 227 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after acquiring an additional 616 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after acquiring an additional 288 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

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.