Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,169 shares of the company’s stock after selling 701 shares during the quarter. Amalgamated Bank’s holdings in Rush Enterprises were worth $960,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. grew its position in shares of Rush Enterprises by 678.7% in the 2nd quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock valued at $5,468,000 after buying an additional 113,831 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after purchasing an additional 100,318 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Rush Enterprises in the 2nd quarter valued at about $41,000. Castleark Management LLC purchased a new position in Rush Enterprises during the 1st quarter worth approximately $4,637,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in Rush Enterprises by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock worth $43,875,000 after buying an additional 63,413 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. This trade represents a 18.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the sale, the senior vice president now directly owns 534 shares in the company, valued at approximately $27,597.12. This represents a 89.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,500 shares of company stock valued at $13,552,133 in the last three months. 12.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Stephens upped their price target on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $61.26 on Friday. The stock has a fifty day moving average price of $53.79 and a 200 day moving average price of $49.12. Rush Enterprises, Inc. has a 1-year low of $38.10 and a 1-year high of $65.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The company has a market cap of $4.82 billion, a PE ratio of 16.25, a P/E/G ratio of 2.38 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business earned $0.96 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is 19.10%.

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.