Maryland State Retirement & Pension System Makes New $1.13 Million Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Maryland State Retirement & Pension System purchased a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,414 shares of the company’s stock, valued at approximately $1,127,000.

Several other hedge funds also recently added to or reduced their stakes in RUSHA. Nisa Investment Advisors LLC increased its stake in shares of Rush Enterprises by 13.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,590 shares of the company’s stock worth $130,000 after buying an additional 300 shares during the period. Gladius Capital Management LP increased its holdings in Rush Enterprises by 891.2% in the third quarter. Gladius Capital Management LP now owns 1,120 shares of the company’s stock valued at $46,000 after buying an additional 1,007 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rush Enterprises by 4.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,552 shares of the company’s stock worth $1,436,000 after buying an additional 1,222 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Rush Enterprises by 30.2% in the 3rd quarter. Quantbot Technologies LP now owns 6,533 shares of the company’s stock valued at $267,000 after acquiring an additional 1,515 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Rush Enterprises by 24.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 9,450 shares of the company’s stock worth $386,000 after purchasing an additional 1,850 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jason Wilder sold 11,250 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $46.23, for a total value of $520,087.50. Following the completion of the sale, the senior vice president now directly owns 534 shares of the company’s stock, valued at $24,686.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens restated an “overweight” rating and issued a $60.00 price target on shares of Rush Enterprises in a research note on Wednesday, April 24th.

Rush Enterprises Trading Up 0.8 %

Rush Enterprises stock opened at $45.19 on Thursday. The firm has a 50-day moving average price of $49.00 and a two-hundred day moving average price of $45.12. Rush Enterprises, Inc. has a 52-week low of $33.67 and a 52-week high of $53.78. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.00 and a beta of 1.07. The company has a quick ratio of 0.28, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. The business had revenue of $1.87 billion during the quarter. Rush Enterprises had a net margin of 4.16% and a return on equity of 17.16%. During the same period in the previous year, the company earned $1.07 EPS. Sell-side analysts expect that Rush Enterprises, Inc. will post 2.92 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.68 annualized dividend and a yield of 1.50%. Rush Enterprises’s payout ratio is presently 17.17%.

Rush Enterprises 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.