Ryder System Inc (NYSE:R) director E. Follin Smith has recently sold a significant amount of company stock, according to the latest SEC filings. The transactions, which took place on April 25th, involved the sale of 3,114 shares at an average price of $119 and an additional 557 shares at an average price of $120.05, totaling approximately $437,433.
Investors following Ryder System Inc may note that the range of sale prices for the shares was between $118.76 to $119.75 for the first batch and between $119.84 to $120.84 for the second. These sales resulted in Smith's direct ownership of Ryder stock decreasing, yet they still held a substantial 38,413 shares following the transactions.
The details of the transaction come from a Form 4 filed with the Securities and Exchange Commission, which records the trading activities of the company's directors and senior executives.
As a director of Ryder System Inc, a company well-known for its services in auto rental and leasing, Smith's trading activities may be of particular interest to current and potential investors. While the reasons behind the sale have not been disclosed, such transactions are a routine part of executive compensation and portfolio management.
Ryder System Inc's stock, traded under the ticker symbol R, has been subject to the usual market fluctuations and these insider transactions provide a glimpse into how high-level stakeholders are managing their holdings in the company.
Investors who track insider selling and buying patterns may consider this information as one of many factors in their overall assessment of the company's stock performance and future outlook.
InvestingPro Insights
With the recent insider selling by Ryder System Inc's (NYSE:R) director, investors might be curious about the company's broader financial health and performance. According to the latest data from InvestingPro, the company has a market capitalization of 5.4 billion USD. This size positions Ryder System within the mid-cap segment of the market, which often balances growth potential with stability. Reflecting on the company's valuation, the P/E ratio stands at 15.65, suggesting that the stock is trading at a reasonable multiple of its earnings relative to the market.
One notable InvestingPro Tip for Ryder System Inc is the significant return over the last week, with a 1-week price total return of 11.88%. This sharp increase could signal growing investor confidence or a market reaction to recent company developments. Additionally, the company is trading near its 52-week high, with the price at 99.44% of this peak, which might indicate a strong performance but also suggests a need for potential investors to assess whether the stock has room for further growth or if it is reaching a resistance level.
Investors interested in dividend reliability will find it encouraging that Ryder System Inc has raised its dividend for 19 consecutive years, showing a commitment to returning value to shareholders. The dividend yield currently stands at 2.33%, with a notable dividend growth of 14.52% over the last twelve months as of Q1 2023. This consistent dividend growth could be a compelling point for income-focused investors.
For those looking to delve deeper into Ryder System Inc's financials and stock performance, there are additional InvestingPro Tips available on the platform. By using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights, which could further inform investment decisions.
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