3,100 Shares in Ryder System, Inc. (NYSE:R) Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue acquired a new position in shares of Ryder System, Inc. (NYSE:R) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,100 shares of the transportation company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. King Luther Capital Management Corp bought a new position in Ryder System during the 3rd quarter worth $221,000. Boothbay Fund Management LLC bought a new position in shares of Ryder System in the third quarter worth $231,000. Janney Capital Management LLC bought a new position in shares of Ryder System in the third quarter worth $268,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Ryder System in the third quarter worth $284,000. Finally, Jane Street Group LLC grew its stake in shares of Ryder System by 101.9% in the third quarter. Jane Street Group LLC now owns 3,477 shares of the transportation company’s stock worth $294,000 after purchasing an additional 188,010 shares in the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.

In related news, EVP John J. Gleason sold 8,760 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $78.30, for a total value of $685,908.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Fatovic sold 17,755 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $82.44, for a total value of $1,463,722.20. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company’s stock.

Shares of Ryder System, Inc. (NYSE R) traded up $0.16 during midday trading on Wednesday, hitting $83.60. The stock had a trading volume of 39,150 shares, compared to its average volume of 467,563. Ryder System, Inc. has a twelve month low of $62.52 and a twelve month high of $90.26. The stock has a market capitalization of $4,367.66, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02.

Ryder System announced that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.49%. This is an increase from Ryder System’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 16th. Ryder System’s dividend payout ratio is currently 49.86%.

R has been the subject of several recent analyst reports. Buckingham Research increased their price target on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. ValuEngine cut Ryder System from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research raised Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, January 15th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $86.00 price target on shares of Ryder System in a research note on Thursday, January 18th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $88.71.

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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 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.

Institutional Ownership by Quarter for Ryder System (NYSE:R)

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