Rush Enterprises, Inc. (RUSHA) to Distribute Quarterly Dividend of $0.14 on September 24th

Rush Enterprises, Inc. (NASDAQ:RUSHA) announced 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) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 9th.

Rush Enterprises has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. Rush Enterprises has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rush Enterprises to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 29.0%.

Rush Enterprises Stock Performance

RUSHA stock opened at $50.95 on Monday. The business’s 50 day moving average is $40.93 and its 200-day moving average is $34.40. Rush Enterprises has a 1-year low of $30.45 and a 1-year high of $55.74. The firm has a market cap of $5.95 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.56 and a beta of 0.88. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities analysts anticipate that Rush Enterprises will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other Rush Enterprises news, Director Michael McRoberts sold 14,625 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total value of $529,360.00. Following the transaction, the director directly owned 36,514 shares of the company’s stock, valued at $1,321,644.52. This represents a 28.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William M. Rusty Rush sold 161,041 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.02, for a total value of $5,801,054.69. Following the transaction, the chief executive officer directly owned 391,846 shares of the company’s stock, valued at $14,115,163.69. This trade represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 252,561 shares of company stock valued at $9,092,298 in the last ninety days. Corporate insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Root Financial Partners LLC grew its holdings in shares of Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Rush Enterprises during the 3rd quarter worth approximately $34,000. Allworth Financial LP grew its holdings in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after acquiring an additional 633 shares during the period. Institutional investors and hedge funds 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.