Hotchkis & Wiley Capital Management LLC Trims Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Hotchkis & Wiley Capital Management LLC decreased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 622,659 shares of the company’s stock after selling 14,700 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.79% of Rush Enterprises worth $32,895,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RUSHA. DekaBank Deutsche Girozentrale purchased a new stake in shares of Rush Enterprises in the first quarter worth $214,000. Harbor Capital Advisors Inc. grew its holdings in shares of Rush Enterprises by 499.1% during the second quarter. Harbor Capital Advisors Inc. now owns 14,138 shares of the company’s stock worth $592,000 after purchasing an additional 11,778 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Rush Enterprises by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after purchasing an additional 287 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Rush Enterprises by 21.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,743 shares of the company’s stock valued at $408,000 after purchasing an additional 1,746 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted 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 valued at $43,875,000 after purchasing an additional 63,413 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,000 shares of company stock worth $11,167,173. Company insiders own 12.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens raised their price objective 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 Rush Enterprises stock opened at $61.28 on Wednesday. The business’s 50-day moving average price is $56.31 and its 200-day moving average price is $50.50. The firm has a market capitalization of $4.84 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00. Rush Enterprises, Inc. has a 12 month low of $40.03 and a 12 month high of $65.15. 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 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Sell-side analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. Rush Enterprises’s dividend payout ratio (DPR) is currently 19.10%.

Rush Enterprises 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.