M&T Bank Corp Trims Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

M&T Bank Corp trimmed its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,525 shares of the company’s stock after selling 489 shares during the period. M&T Bank Corp’s holdings in Rush Enterprises were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Rush Enterprises by 121.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock valued at $62,000 after purchasing an additional 616 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock valued at $68,000 after purchasing an additional 288 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Rush Enterprises by 71.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock valued at $79,000 after purchasing an additional 596 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Rush Enterprises by 833.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company’s stock valued at $107,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Rush Enterprises during the 4th quarter valued at $210,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RUSHA. Stephens reduced their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, July 13th.

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $50.67 on Friday. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. The company has a market capitalization of $3.94 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.49 and a beta of 0.88. The company has a fifty day moving average of $51.31 and a 200-day moving average of $53.94.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. As a group, equities research analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, May 12th. Rush Enterprises’s dividend payout ratio is currently 20.11%.

Insiders Place Their Bets

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the sale, the chief operating officer directly owned 84,672 shares of the company’s stock, valued at $4,748,405.76. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the sale, the senior vice president directly owned 12,510 shares of the company’s stock, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,731 shares of company stock valued at $303,634 over the last ninety days. 12.28% of the stock is currently owned by insiders.

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.