Keeley Teton Advisors LLC lessened its position in Ryder System, Inc. (NYSE:R) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,094 shares of the transportation company’s stock after selling 4,936 shares during the quarter. Keeley Teton Advisors LLC owned approximately 0.25% of Ryder System worth $11,338,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new stake in shares of Ryder System in the 2nd quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ryder System by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock worth $141,000 after buying an additional 156 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Ryder System by 94.7% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock worth $183,000 after buying an additional 1,240 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Ryder System in the 2nd quarter worth $202,000. Finally, ARP Americas LLC purchased a new position in shares of Ryder System in the 2nd quarter worth $212,000. Institutional investors own 89.35% of the company’s stock.
Shares of Ryder System, Inc. (R) traded down $0.80 during trading on Friday, hitting $84.17. The stock had a trading volume of 232,548 shares, compared to its average volume of 514,848. Ryder System, Inc. has a fifty-two week low of $62.52 and a fifty-two week high of $85.77. The stock has a market capitalization of $4,460.00, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39.
Ryder System announced that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, November 20th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.19%. Ryder System’s dividend payout ratio (DPR) is 49.60%.
In other Ryder System news, EVP John J. Gleason sold 8,760 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $78.30, for a total transaction of $685,908.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dennis C. Cooke sold 32,328 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $81.46, for a total value of $2,633,438.88. The disclosure for this sale can be found here. Insiders sold 63,633 shares of company stock worth $5,174,795 over the last ninety days. Insiders own 1.95% of the company’s stock.
A number of equities analysts have recently issued reports on R shares. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $68.00 target price on shares of Ryder System in a research report on Tuesday, September 5th. KeyCorp upgraded Ryder System from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, September 13th. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Tuesday, September 26th. Finally, Robert W. Baird restated an “outperform” rating and issued a $98.00 price objective (up from $84.00) on shares of Ryder System in a research report on Monday, October 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $85.00.
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Ryder System Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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