Blair William & Co. IL Decreases Stock Holdings in Rio Tinto PLC (NYSE:RIO)

Blair William & Co. IL trimmed its stake in shares of Rio Tinto PLC (NYSE:RIO) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,970 shares of the mining company’s stock after selling 3,523 shares during the period. Blair William & Co. IL’s holdings in Rio Tinto were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in RIO. Auto Owners Insurance Co grew its position in Rio Tinto by 77,150.0% during the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after buying an additional 7,406,400 shares during the period. Deutsche Bank AG grew its position in Rio Tinto by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after buying an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. grew its position in Rio Tinto by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock valued at $2,423,000 after buying an additional 807,610 shares during the period. Paloma Partners Management Co bought a new stake in Rio Tinto during the fourth quarter valued at approximately $40,032,000. Finally, Raymond James Financial Inc. bought a new stake in Rio Tinto during the fourth quarter valued at approximately $29,606,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Price Performance

Shares of NYSE:RIO opened at $61.84 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The firm has a fifty day moving average price of $59.53 and a 200 day moving average price of $60.28. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $72.08. The firm has a market cap of $77.55 billion, a price-to-earnings ratio of 9.59 and a beta of 0.64.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be given a dividend of $1.48 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto’s dividend payout ratio is currently 69.15%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RIO. Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto 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.