475,632 Shares in Rush Enterprises, Inc. $RUSHA Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 2nd quarter, HoldingsChannel reports. The fund bought 475,632 shares of the company’s stock, valued at approximately $112,882,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RUSHA. Dimensional Fund Advisors LP raised its position in Rush Enterprises by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock valued at $203,618,000 after purchasing an additional 29,375 shares in the last quarter. State Street Corp increased its stake in shares of Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after purchasing an additional 6,994 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Rush Enterprises by 166.4% during the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Rush Enterprises by 20.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after buying an additional 173,096 shares during the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in Rush Enterprises by 1.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock valued at $53,071,000 after buying an additional 14,995 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RUSHA. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $58.67 target price on the stock. UBS Group raised their price target on shares of Rush Enterprises from $48.67 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Stephens upped their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Rush Enterprises currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Insider Buying and Selling

In related news, CEO William M. Rusty Rush sold 107,361 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $54.03, for a total value of $5,801,072.70. Following the transaction, the chief executive officer directly owned 261,231 shares of the company’s stock, valued at $14,115,181.70. The trade was a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Keller sold 31,017 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $53.82, for a total value of $1,669,334.94. Following the completion of the sale, the chief financial officer owned 126,561 shares in the company, valued at $6,811,513.02. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 168,375 shares of company stock worth $9,092,352. Corporate insiders own 12.68% of the company’s stock.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $82.23 on Monday. The stock’s 50-day moving average is $52.25 and its 200-day moving average is $48.31. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $83.61. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The stock has a market cap of $6.40 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87.

Shares of Rush Enterprises are set to split before the market opens on Tuesday, September 1st. The 3-2 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s payout ratio is 22.89%.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.