Alpine Global Management LLC Invests $870,000 in Ryder System, Inc. (NYSE:R)

Alpine Global Management LLC purchased a new stake in Ryder System, Inc. (NYSE:R - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,544 shares of the transportation company's stock, valued at approximately $870,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG grew its position in shares of Ryder System by 1.6% in the 4th quarter. Deutsche Bank AG now owns 4,136 shares of the transportation company's stock valued at $649,000 after purchasing an additional 65 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Ryder System by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 7,894 shares of the transportation company's stock valued at $1,282,000 after buying an additional 68 shares in the last quarter. Savant Capital LLC boosted its position in Ryder System by 3.6% during the fourth quarter. Savant Capital LLC now owns 2,438 shares of the transportation company's stock worth $382,000 after purchasing an additional 84 shares during the period. Baird Financial Group Inc. raised its position in shares of Ryder System by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 9,826 shares of the transportation company's stock valued at $1,541,000 after purchasing an additional 90 shares during the period. Finally, Principal Securities Inc. raised its position in shares of Ryder System by 36.5% in the fourth quarter. Principal Securities Inc. now owns 344 shares of the transportation company's stock valued at $54,000 after purchasing an additional 92 shares during the period. 87.47% of the stock is owned by institutional investors.

Ryder System Trading Up 2.1%

Shares of NYSE:R traded up $3.14 during midday trading on Tuesday, hitting $152.42. 209,758 shares of the stock were exchanged, compared to its average volume of 388,003. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 13.74 and a beta of 0.94. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.75 and a current ratio of 0.75. The business's 50-day moving average price is $143.47 and its 200 day moving average price is $154.19. Ryder System, Inc. has a 12 month low of $116.58 and a 12 month high of $171.78.

Ryder System (NYSE:R - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $3.13 billion for the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 earnings per share. Analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 19th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, May 19th. Ryder System's payout ratio is presently 28.25%.

Insider Activity at Ryder System

In other Ryder System news, Director E Follin Smith sold 1,243 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $144.38, for a total value of $179,464.34. Following the transaction, the director now directly owns 39,802 shares of the company's stock, valued at approximately $5,746,612.76. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert E. Sanchez sold 18,496 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total value of $2,880,382.08. Following the completion of the transaction, the chief executive officer now directly owns 40,824 shares in the company, valued at approximately $6,357,521.52. This trade represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on R shares. JPMorgan Chase & Co. dropped their target price on Ryder System from $174.00 to $165.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Stephens dropped their price target on Ryder System from $168.00 to $150.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded Ryder System from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ryder System has an average rating of "Moderate Buy" and a consensus target price of $160.50.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.