The answer depends on 5.375 WHAT! And since you have not bothered to share that crucial bit of information, I cannot provide a more useful answer.
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1 yard = 36 inches = 3 times the 12 inch ruler.
On a 12 inch ruler, the 1/3 point would be 12/3, or at 4 inches.
inch ruler
In an inch, there are 16 lines. It should be the 12th line. From line 0 to line 12 is 3/4 an inch.
That depends on the ruler. If you refer to a 1 foot ruler, divided in inches and sub-inch divisions, then 0.39 inch is a more than a quarter inch, and less than a half inch.