In a recent transaction, John J. Diez, the Executive Vice President and Chief Financial Officer of Ryder System Inc . (NYSE:R), sold a significant amount of company stock, resulting in proceeds exceeding $1.6 million. The sales took place on May 9, 2024, and were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Diez sold a total of 13,000 shares of Ryder System's common stock at an average price of $93.51, which amounted to a transaction value of approximately $1,215,630. Additionally, he disposed of 10,937 shares at a weighted average price of $126.60 and 2,063 shares at a weighted average price of $127.19. The total value of the shares sold at these prices was $1,647,017. The prices for the shares sold ranged from $126.06 to $127.05 and from $127.13 to $128.12, as disclosed in the footnotes of the filing.
Following these transactions, Diez still holds 135,471 shares in the company, showing a continued investment in Ryder System's future. It's worth noting that the executive also exercised options to acquire 13,000 shares of common stock on the same day, which were not reflected in the total sale value.
Investors often monitor insider transactions as they can provide insights into the executives' confidence in the company's prospects. While the reasons behind Diez's stock sale are not detailed in the filing, the transactions are part of the regular financial disclosures required by corporate insiders.
Ryder System Inc., headquartered in Miami, Florida, is a leader in transportation and supply chain management solutions. The company is known for its fleet management, dedicated transportation, and supply chain solutions, catering to a wide range of industries worldwide.
Investors and shareholders of Ryder System can request further details about the transactions from the reporting person, as mentioned in the footnotes of the SEC filing.
InvestingPro Insights
As Ryder System Inc. (NYSE:R) navigates the complexities of the transportation and supply chain sectors, a closer look at the company's financial health and market performance provides valuable context for investors. With a market capitalization of $5.51 billion and a P/E ratio of 16.09, the company presents a stable investment profile. Notably, the P/E ratio has seen an adjustment in the last twelve months as of Q1 2024, climbing to 27.59.
InvestingPro Data indicates that Ryder System has experienced a slight dip in revenue growth, with a -1.49% change over the last twelve months as of Q1 2024. However, the quarterly revenue growth for Q1 2024 shows a positive turn at 4.95%. The company's gross profit margin stands at a healthy 19.38%, reflecting its ability to maintain profitability in a challenging industry.
Among the notable InvestingPro Tips, Ryder System has been recognized for its consistent shareholder returns, having raised its dividend for 19 consecutive years. This commitment to returning value to shareholders is further underscored by a dividend growth of 14.52% in the last twelve months as of Q1 2024. Additionally, the company has managed to maintain dividend payments for an impressive 49 consecutive years, showcasing its financial resilience and strategic foresight.
Investors interested in a deeper analysis of Ryder System's financials and market outlook can find additional InvestingPro Tips by visiting https://www.investing.com/pro/R. Plus, for those looking to subscribe to a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24 to get an additional 10% off. With more tips available on the platform, investors can gain an even more comprehensive understanding of Ryder System's potential.
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