Rhumbline Advisers lessened its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,123 shares of the mining company's stock after selling 8,670 shares during the period. Rhumbline Advisers' holdings in Rio Tinto were worth $969,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vise Technologies Inc. lifted its holdings in shares of Rio Tinto by 4.9% in the 4th quarter. Vise Technologies Inc. now owns 14,606 shares of the mining company's stock worth $859,000 after acquiring an additional 679 shares during the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in Rio Tinto during the 4th quarter worth approximately $1,391,000. Forum Financial Management LP increased its stake in Rio Tinto by 93.8% during the 4th quarter. Forum Financial Management LP now owns 8,299 shares of the mining company's stock worth $488,000 after buying an additional 4,017 shares during the period. WNY Asset Management LLC increased its stake in Rio Tinto by 2.8% during the 4th quarter. WNY Asset Management LLC now owns 8,255 shares of the mining company's stock worth $485,000 after buying an additional 225 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in Rio Tinto during the 4th quarter worth approximately $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
RIO has been the topic of several recent research reports. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Jefferies Financial Group reissued a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $73.00.
View Our Latest Stock Analysis on RIO
Rio Tinto Price Performance
RIO opened at $62.27 on Friday. The company's 50 day simple moving average is $61.86 and its 200 day simple moving average is $60.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $72.08. The stock has a market capitalization of $78.10 billion, a PE ratio of 9.65 and a beta of 0.66.
Rio Tinto Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a dividend of $1.48 per share. This represents a yield of 620.0%. The ex-dividend date of this dividend is Friday, August 15th. Rio Tinto's payout ratio is 45.74%.
About Rio Tinto
(
Free Report)
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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