Rush Enterprises, Inc. to Issue Quarterly Dividend of $0.19 (NASDAQ:RUSHA)

Rush Enterprises, Inc. (NASDAQ:RUSHA) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Tuesday, March 3rd will be given a dividend of 0.19 per share on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 3rd.

Rush Enterprises has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 6 years. Rush Enterprises has a dividend payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rush Enterprises to earn $4.93 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 15.4%.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded up $3.61 during midday trading on Wednesday, hitting $73.62. 144,998 shares of the company traded hands, compared to its average volume of 440,155. The firm’s fifty day moving average price is $61.58 and its 200-day moving average price is $56.33. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 0.88 and a beta of 0.92. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $74.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.37.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, sell-side analysts forecast that Rush Enterprises will post 3.91 earnings per share for the current year.

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gotham Asset Management LLC boosted its holdings in Rush Enterprises by 155.3% in the fourth quarter. Gotham Asset Management LLC now owns 35,826 shares of the company’s stock worth $1,932,000 after acquiring an additional 21,793 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in shares of Rush Enterprises during the fourth quarter worth approximately $585,000. Guggenheim Capital LLC bought a new position in shares of Rush Enterprises in the 4th quarter worth $238,000. AQR Capital Management LLC grew its position in Rush Enterprises by 103.4% in the 4th quarter. AQR Capital Management LLC now owns 84,138 shares of the company’s stock valued at $4,538,000 after purchasing an additional 42,771 shares during the period. Finally, Amundi grew its position in Rush Enterprises by 109.7% in the 4th quarter. Amundi now owns 22,867 shares of the company’s stock valued at $1,233,000 after purchasing an additional 11,960 shares during the period. 84.43% of the stock is owned by institutional investors.

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.