Rush Enterprises (NASDAQ:RUSHA) Hits New 12-Month High Following Dividend Announcement

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $65.43 and last traded at $61.99, with a volume of 636434 shares. The stock had previously closed at $61.17.

The newly announced dividend which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd 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 1.16%. The ex-dividend date is Monday, March 3rd. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Analysts Set New Price Targets

Separately, Stephens reiterated an “overweight” rating and issued a $69.00 target price on shares of Rush Enterprises in a research report on Wednesday.

Rush Enterprises Stock Performance

The stock has a market cap of $4.90 billion, a P/E ratio of 16.44, a PEG ratio of 2.41 and a beta of 1.02. 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 fifty day moving average of $58.30 and a 200 day moving average of $55.96.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. On average, equities analysts predict that Rush Enterprises, Inc. will post 3.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently made changes to their positions in the business. Castleark Management LLC bought a new stake in Rush Enterprises during the fourth quarter worth approximately $4,724,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rush Enterprises by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,554 shares of the company’s stock worth $7,646,000 after acquiring an additional 19,148 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Rush Enterprises in the 4th quarter worth $210,000. Point72 Asset Management L.P. acquired a new stake in shares of Rush Enterprises during the fourth quarter worth $581,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Rush Enterprises by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 18,365 shares of the company’s stock valued at $1,006,000 after purchasing an additional 5,652 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

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.