MetLife Investment Management LLC Acquires 1,560 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

MetLife Investment Management LLC lifted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,689 shares of the company’s stock after buying an additional 1,560 shares during the quarter. MetLife Investment Management LLC’s holdings in Rush Enterprises were worth $2,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC increased its position in Rush Enterprises by 0.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company’s stock worth $58,821,000 after purchasing an additional 5,823 shares during the period. Epoch Investment Partners Inc. acquired a new stake in Rush Enterprises in the fourth quarter worth about $412,000. CANADA LIFE ASSURANCE Co increased its position in Rush Enterprises by 4.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 94,887 shares of the company’s stock worth $5,198,000 after purchasing an additional 3,833 shares during the period. Dean Investment Associates LLC increased its position in Rush Enterprises by 34.9% in the fourth quarter. Dean Investment Associates LLC now owns 50,716 shares of the company’s stock worth $2,779,000 after purchasing an additional 13,128 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Rush Enterprises during the 4th quarter worth about $398,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stephens restated an “overweight” rating and set a $69.00 target price on shares of Rush Enterprises in a research report on Wednesday, February 19th.

Insider Activity at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total transaction of $634,837.50. Following the completion of the transaction, the senior vice president now owns 3,117 shares in the company, valued at approximately $175,892.31. This represents a 78.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Mcroberts sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. Following the completion of the transaction, the director now directly owns 15,771 shares of the company’s stock, valued at approximately $922,918.92. This trade represents a 20.23 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $50.60 on Tuesday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 13.57, a PEG ratio of 1.04 and a beta of 0.96. Rush Enterprises, Inc. has a 1 year low of $40.99 and a 1 year high of $65.43. The business has a 50-day moving average of $53.73 and a 200-day moving average of $56.83. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.09. The company 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 14.76% and a net margin of 3.90%. On average, equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 3rd were given a $0.18 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.42%. Rush Enterprises’s dividend payout ratio is presently 19.30%.

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.