Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,376 shares of the company’s stock after selling 304 shares during the period. M&T Bank Corp’s holdings in Rush Enterprises were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Rush Enterprises in the second quarter valued at approximately $36,000. Blue Trust Inc. grew its holdings in Rush Enterprises by 266.1% in the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after buying an additional 511 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Rush Enterprises in the 2nd quarter valued at approximately $41,000. GAMMA Investing LLC raised its stake in Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after acquiring an additional 469 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in Rush Enterprises during the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Stock Down 1.5 %

Rush Enterprises stock opened at $55.40 on Friday. Rush Enterprises, Inc. has a 52 week low of $40.99 and a 52 week high of $65.15. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.14 and a beta of 1.00. The company’s 50-day moving average price is $58.55 and its two-hundred day moving average price is $51.82. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $0.96 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts expect that Rush Enterprises, Inc. will post 3.64 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 19.10%.

Insider Activity

In other news, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the transaction, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven L. Keller sold 14,625 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the sale, the chief financial officer now owns 83,365 shares in the company, valued at $4,876,852.50. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $11,167,173 over the last 90 days. 12.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Stephens increased their price target on Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

About Rush Enterprises

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.