Rush Enterprises (NASDAQ:RUSHA) Reaches New 52-Week High After Dividend Announcement

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $65.43 and last traded at $61.99, with a volume of 636434 shares. The stock had previously closed at $61.17.

The newly announced dividend which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd will be given a $0.18 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. Rush Enterprises's dividend payout ratio (DPR) is presently 19.30%.

Analysts Set New Price Targets

Separately, Stephens reaffirmed an "overweight" rating and issued a $69.00 target price on shares of Rush Enterprises in a research report on Wednesday.

Rush Enterprises Trading Down 4.4 %

The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.04 and a beta of 1.02. The company has a 50-day moving average price of $58.16 and a 200 day moving average price of $56.05. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.86 billion. As a group, research analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

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Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 4,000 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $58.52, for a total value of $234,080.00. Following the transaction, the director now owns 15,771 shares in the company, valued at $922,918.92. The trade was a 20.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.53% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Castleark Management LLC purchased a new position in Rush Enterprises in the fourth quarter valued at about $4,724,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rush Enterprises by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,554 shares of the company's stock worth $7,646,000 after acquiring an additional 19,148 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Rush Enterprises during the 4th quarter worth about $210,000. Point72 Asset Management L.P. bought a new stake in shares of Rush Enterprises during the 4th quarter worth about $581,000. Finally, ProShare Advisors LLC boosted its stake in shares of Rush Enterprises by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 18,365 shares of the company's stock worth $1,006,000 after acquiring an additional 5,652 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

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.