Crossmark Global Holdings Inc. Sells 7,991 Shares of Rio Tinto PLC (NYSE:RIO)

Crossmark Global Holdings Inc. reduced its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,680 shares of the mining company's stock after selling 7,991 shares during the period. Crossmark Global Holdings Inc.'s holdings in Rio Tinto were worth $4,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Rio Tinto by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 84,154 shares of the mining company's stock valued at $4,949,000 after purchasing an additional 5,281 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rio Tinto by 28.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 81,888 shares of the mining company's stock worth $4,816,000 after purchasing an additional 18,179 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Rio Tinto in the 4th quarter worth about $29,606,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Rio Tinto in the 4th quarter worth about $554,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Rio Tinto in the 4th quarter worth about $94,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on RIO. Morgan Stanley downgraded shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Barclays restated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto in a research report on Tuesday, March 18th. They set an "overweight" rating on the stock. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Rio Tinto currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Stock Up 1.9%

RIO stock opened at $58.73 on Wednesday. The firm has a 50 day moving average of $59.45 and a 200 day moving average of $60.05. The stock has a market capitalization of $73.65 billion, a PE ratio of 9.11 and a beta of 0.66. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.

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