OLD National Bancorp IN decreased its stake in Rio Tinto PLC (NYSE:RIO) by 22.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,557 shares of the mining company’s stock after selling 1,574 shares during the period. OLD National Bancorp IN’s holdings in Rio Tinto PLC were worth $235,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its position in Rio Tinto PLC by 3.8% in the second quarter. NEXT Financial Group Inc now owns 11,939 shares of the mining company’s stock worth $505,000 after buying an additional 437 shares during the period. Kempner Capital Management Inc. raised its position in Rio Tinto PLC by 1.2% in the second quarter. Kempner Capital Management Inc. now owns 49,008 shares of the mining company’s stock worth $2,074,000 after buying an additional 560 shares during the period. Bank of Montreal Can acquired a new stake in Rio Tinto PLC during the second quarter worth $21,563,000. Neville Rodie & Shaw Inc. boosted its stake in Rio Tinto PLC by 40.0% in the second quarter. Neville Rodie & Shaw Inc. now owns 33,600 shares of the mining company’s stock worth $1,422,000 after buying an additional 9,600 shares in the last quarter. Finally, Bremer Trust National Association boosted its stake in Rio Tinto PLC by 138.8% in the second quarter. Bremer Trust National Association now owns 25,064 shares of the mining company’s stock worth $1,060,000 after buying an additional 14,567 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.
Rio Tinto PLC (NYSE RIO) traded up 0.72% during mid-day trading on Friday, hitting $44.64. The stock had a trading volume of 1,906,551 shares. The stock has a market cap of $80.04 billion, a PE ratio of 13.01 and a beta of 0.98. The firm’s 50-day moving average is $45.08 and its 200 day moving average is $42.11. Rio Tinto PLC has a one year low of $29.62 and a one year high of $48.03.
The company also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date is Wednesday, August 9th.
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A number of analysts have recently commented on the company. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC set a $52.00 price target on Rio Tinto PLC and gave the company a “buy” rating in a research report on Friday. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report 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, Citigroup Inc. raised Rio Tinto PLC from a “neutral” rating to a “buy” rating in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $43.00.
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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