Rush Enterprises, Inc. Declares Quarterly Dividend of $0.14 (NASDAQ:RUSHA)

Rush Enterprises, Inc. (NASDAQ:RUSHA) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, September 9th will be paid a dividend of 0.14 per share on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th.

Rush Enterprises has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Rush Enterprises has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rush Enterprises to earn $4.36 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 17.4%.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA traded up $3.94 during midday trading on Wednesday, reaching $82.76. The company’s stock had a trading volume of 30,451 shares, compared to its average volume of 477,411. The stock has a market capitalization of $6.43 billion, a P/E ratio of 24.90, a PEG ratio of 1.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The firm has a 50 day moving average price of $71.91 and a 200-day moving average price of $69.50. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $82.24.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, equities analysts predict that Rush Enterprises will post 3.75 earnings per share for the current year.

Insider Activity

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rush Enterprises

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its stake in Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Kestra Advisory Services LLC boosted its position in Rush Enterprises by 1.1% during the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System increased its stake in shares of Rush Enterprises by 0.4% in the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock worth $2,955,000 after purchasing an additional 208 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Rush Enterprises by 44.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after purchasing an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Rush Enterprises by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock valued at $1,897,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.