Mesirow Financial Investment Management Inc. Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Mesirow Financial Investment Management Inc. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,617 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also recently made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR during the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter valued at approximately $31,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR opened at $97.99 on Wednesday. The firm has a market cap of $51.37 billion, a P/E ratio of 10.16, a PEG ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a 50 day simple moving average of $97.22 and a two-hundred day simple moving average of $106.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. PACCAR’s dividend payout ratio is 12.45%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI reduced their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.73.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.