Ryder System Inc. (R) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. cut its position in shares of Ryder System Inc. (NYSE:R) by 38.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 275,725 shares of the company’s stock after selling 173,225 shares during the period. Sit Investment Associates Inc.’s holdings in Ryder System were worth $16,858,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Scotia Capital Inc. boosted its position in Ryder System by 25.1% in the first quarter. Scotia Capital Inc. now owns 134,350 shares of the company’s stock valued at $8,708,000 after buying an additional 26,920 shares during the period. Credit Agricole S A boosted its position in Ryder System by 118.3% in the first quarter. Credit Agricole S A now owns 150,631 shares of the company’s stock valued at $9,758,000 after buying an additional 81,623 shares during the period. Fiduciary Management Inc. WI boosted its position in Ryder System by 55.2% in the first quarter. Fiduciary Management Inc. WI now owns 1,142,910 shares of the company’s stock valued at $74,038,000 after buying an additional 406,634 shares during the period. M&T Bank Corp bought a new position in Ryder System during the first quarter valued at $262,000. Finally, JPMorgan Chase & Co. boosted its position in Ryder System by 261.6% in the first quarter. JPMorgan Chase & Co. now owns 94,976 shares of the company’s stock valued at $6,153,000 after buying an additional 68,707 shares during the period. Institutional investors and hedge funds own 90.95% of the company’s stock.
Ryder System Inc. (NYSE:R) traded up 0.16% during mid-day trading on Thursday, hitting $67.03. The stock had a trading volume of 442,974 shares. The stock’s 50-day moving average price is $65.37 and its 200-day moving average price is $65.80. Ryder System Inc. has a 12 month low of $45.12 and a 12 month high of $76.33. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 12.10 and a beta of 1.63.
Ryder System (NYSE:R) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. Ryder System had a return on equity of 16.21% and a net margin of 4.44%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Ryder System Inc. will post $5.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Monday, August 22nd were given a dividend of $0.44 per share. This is a boost from Ryder System’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, August 18th. Ryder System’s payout ratio is presently 31.71%.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ryder System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Royal Bank Of Canada restated a “hold” rating on shares of Ryder System in a research report on Monday, June 13th. Credit Agricole SA initiated coverage on Ryder System in a research note on Friday, September 30th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Ryder System in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $81.38.
About Ryder System
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 full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers 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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