Palouse Capital Management Lowers stake in Ryder System (R)

Ryder System (R) : Palouse Capital Management reduced its stake in Ryder System by 24.59% during the most recent quarter end. The investment management company now holds a total of 87,359 shares of Ryder System which is valued at $5,636,403 after selling 28,480 shares in Ryder System , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ryder System makes up approximately 2.19% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Artemis Investment Management Llp reduced its stake in R by selling 985,128 shares or 71.88% in the most recent quarter. The Hedge Fund company now holds 385,386 shares of R which is valued at $24,865,105. Ryder System makes up approx 0.65% of Artemis Investment Management Llp’s portfolio.Jfs Wealth Advisors boosted its stake in R in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 1,235 shares of Ryder System which is valued at $79,682. Ryder System makes up approx 0.02% of Jfs Wealth Advisors’s portfolio.Hartford Investment Management Co reduced its stake in R by selling 259 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 11,617 shares of R which is valued at $804,477. Ryder System makes up approx 0.02% of Hartford Investment Management Co’s portfolio.Banced Corp reduced its stake in R by selling 2,196 shares or 29.65% in the most recent quarter. The Hedge Fund company now holds 5,211 shares of R which is valued at $352,316. Ryder System makes up approx 0.61% of Banced Corp’s portfolio.

Ryder System opened for trading at $65.3 and hit $66.485 on the upside on Friday, eventually ending the session at $65.9, with a gain of 0.43% or 0.28 points. The heightened volatility saw the trading volume jump to 6,67,801 shares. Company has a market cap of $3,524 M.

On the company’s financial health, Ryder System reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.53. The company had revenue of $1703.70 million for the quarter, compared to analysts expectations of $1688.26 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.

Investors should note that on Jul 15, 2016, Ryder System announced a cash dividend of $0.4400. The company’s management has announced Aug 18, 2016 as the ex-dividend date and fixed the record date on Aug 22, 2016. The payable date has been fixed on Sep 16, 2016.

Ryder System Inc. (Ryder) is engaged in offering commercial fleet management and supply chain solutions. Ryder operates in two segments: Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). The Fleet Management Solutions segment provides 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. The Supply Chain Solutions segment provides supply chain solutions including distribution and transportation services in North America and Asia. The Supply Chain Solutions segment also provides services which includes vehicles and drivers as part of a transportation solution in the United States. In addition the Company’s SCS business as well as its FMS business provides customers with capacity management services.

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