Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Rio Tinto PLC (NYSE:RIO) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,637 shares of the mining company’s stock after selling 41 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Rio Tinto PLC were worth $1,127,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Rio Tinto PLC by 50.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,594 shares of the mining company’s stock worth $2,479,000 after purchasing an additional 19,690 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Rio Tinto PLC by 2.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 54,280 shares of the mining company’s stock valued at $2,297,000 after buying an additional 1,249 shares during the period. Todd Asset Management LLC boosted its stake in shares of Rio Tinto PLC by 2.7% during the 2nd quarter. Todd Asset Management LLC now owns 1,120,708 shares of the mining company’s stock valued at $47,417,000 after buying an additional 29,807 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Rio Tinto PLC by 2.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,317 shares of the mining company’s stock valued at $690,000 after buying an additional 371 shares during the period. Finally, Commerce Bank acquired a new stake in shares of Rio Tinto PLC during the 2nd quarter valued at $207,000. Hedge funds and other institutional investors own 6.87% of the company’s stock.
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Shares of Rio Tinto PLC (NYSE RIO) opened at 47.82 on Friday. The firm’s 50-day moving average is $47.23 and its 200 day moving average is $42.74. Rio Tinto PLC has a 52-week low of $31.24 and a 52-week high of $49.89. The company has a market capitalization of $85.74 billion, a price-to-earnings ratio of 13.94 and a beta of 0.98.
The firm also recently announced a None dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were issued a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 9th.
RIO has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. ValuEngine lowered shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Bank of America Corporation upgraded shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Rio Tinto PLC in a research report on Monday, August 14th. Finally, Cowen and Company reiterated a “market perform” rating and set a $45.00 target price (down from $47.00) on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $47.50.
Rio Tinto PLC Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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