Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Acquired by Cooke & Bieler LP

Cooke & Bieler LP increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,092,709 shares of the company’s stock after purchasing an additional 100,318 shares during the period. Cooke & Bieler LP owned 1.39% of Rush Enterprises worth $45,752,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Rush Enterprises by 352.2% during the first quarter. GAMMA Investing LLC now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 405 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Rush Enterprises by 70.3% during the first quarter. Hexagon Capital Partners LLC now owns 695 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Rush Enterprises during the fourth quarter worth approximately $43,000. Future Financial Wealth Managment LLC bought a new stake in Rush Enterprises during the first quarter worth approximately $54,000. Finally, nVerses Capital LLC bought a new stake in Rush Enterprises during the second quarter worth approximately $71,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 40,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at $9,371,226.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at $9,371,226.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 7,875 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $51.25, for a total transaction of $403,593.75. Following the sale, the senior vice president now directly owns 12,238 shares in the company, valued at $627,197.50. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock valued at $3,422,554 over the last quarter. 12.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on Rush Enterprises in a report on Monday, July 8th. They issued an “overweight” rating on the stock.

Rush Enterprises Stock Down 0.5 %

NASDAQ:RUSHA traded down $0.25 during trading hours on Wednesday, reaching $49.72. The company’s stock had a trading volume of 33,281 shares, compared to its average volume of 351,523. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.28. Rush Enterprises, Inc. has a one year low of $34.68 and a one year high of $56.64. The business’s 50-day moving average is $48.56 and its 200-day moving average is $47.55.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 31st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. Equities research analysts predict that Rush Enterprises, Inc. will post 3.28 EPS for the current year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s payout ratio is presently 18.20%.

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.