State Farm Mutual Automobile Insurance Co. held its stake in Rio Tinto PLC (NYSE:RIO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,544,820 shares of the mining company’s stock at the end of the second quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.98% of Rio Tinto PLC worth $573,082,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in RIO. Nicholas Hoffman & Company LLC. grew its position in Rio Tinto PLC by 0.3% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 8,310 shares of the mining company’s stock valued at $338,000 after purchasing an additional 24 shares during the period. Neville Rodie & Shaw Inc. grew its position in Rio Tinto PLC by 0.4% in the 1st quarter. Neville Rodie & Shaw Inc. now owns 24,000 shares of the mining company’s stock valued at $976,000 after purchasing an additional 100 shares during the period. HPM Partners LLC grew its position in Rio Tinto PLC by 1.3% in the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after purchasing an additional 132 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Rio Tinto PLC by 0.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock worth $1,276,000 after acquiring an additional 150 shares during the last quarter. Finally, Bollard Group LLC boosted its holdings in Rio Tinto PLC by 3.0% during the 2nd quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock worth $304,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 6.88% of the company’s stock.
Shares of Rio Tinto PLC (NYSE:RIO) traded down 0.29% during trading on Friday, hitting $47.82. The company had a trading volume of 1,567,150 shares. The stock’s 50-day moving average price is $47.10 and its 200 day moving average price is $42.60. The company has a market capitalization of $85.74 billion, a P/E ratio of 13.94 and a beta of 0.98. Rio Tinto PLC has a 52 week low of $29.79 and a 52 week high of $49.89.
The company also recently announced a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.
A number of equities research analysts have recently commented on the company. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $52.00 price objective on Rio Tinto PLC and gave the company a “buy” rating in a research note on Friday, August 18th. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BidaskClub lowered Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.50.
About Rio Tinto PLC
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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