Madison Investment Holdings Inc. Buys 42,590 Shares of Rio Tinto plc (RIO)

Madison Investment Holdings Inc. grew its stake in shares of Rio Tinto plc (NYSE:RIO) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,985 shares of the mining company’s stock after buying an additional 42,590 shares during the quarter. Madison Investment Holdings Inc.’s holdings in Rio Tinto were worth $17,043,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd grew its stake in shares of Rio Tinto by 18.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock valued at $402,000 after buying an additional 1,503 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Rio Tinto by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock valued at $51,543,000 after buying an additional 605,170 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Rio Tinto by 23.5% during the third quarter. Private Advisor Group LLC now owns 15,436 shares of the mining company’s stock valued at $740,000 after buying an additional 2,936 shares during the last quarter. AlphaStar Capital Management LLC bought a new position in shares of Rio Tinto during the third quarter valued at about $288,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Rio Tinto by 9.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 46,877 shares of the mining company’s stock valued at $2,212,000 after buying an additional 3,910 shares during the last quarter. 7.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Rio Tinto plc (NYSE RIO) opened at $56.61 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.40 and a current ratio of 1.71. Rio Tinto plc has a 12 month low of $37.66 and a 12 month high of $59.25.

The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, March 2nd will be given a dividend of $1.7955 per share. This represents a yield of 6.68%. This is a boost from Rio Tinto’s previous semiannual dividend of $1.26. The ex-dividend date is Thursday, March 1st.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 14th. Citigroup reissued a “buy” rating on shares of Rio Tinto in a research note on Tuesday, December 5th. Societe Generale raised Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Argus raised their target price on Rio Tinto to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $59.07.

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Rio Tinto 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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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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