Huntington National Bank lessened its position in Rio Tinto plc ADR (NYSE:RIO) by 36.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,197 shares of the mining company’s stock after selling 700 shares during the period. Huntington National Bank’s holdings in Rio Tinto were worth $70,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of RIO. Berman Capital Advisors LLC bought a new stake in shares of Rio Tinto during the fourth quarter worth $25,000. Doyle Wealth Management bought a new stake in shares of Rio Tinto during the fourth quarter worth $39,000. Financial Gravity Companies Inc. bought a new stake in shares of Rio Tinto during the fourth quarter worth $46,000. Reilly Financial Advisors LLC increased its position in shares of Rio Tinto by 57.8% during the fourth quarter. Reilly Financial Advisors LLC now owns 1,365 shares of the mining company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Finally, Legacy Advisors LLC bought a new stake in shares of Rio Tinto during the first quarter worth $74,000. 7.96% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on RIO shares. UBS Group reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Wednesday, March 27th. Investec downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Goldman Sachs Group downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 27th. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, February 4th. Finally, Societe Generale downgraded shares of Rio Tinto from a “hold” rating to a “sell” rating and set a $55.23 target price for the company. in a research report on Thursday, March 7th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.33.
The firm also recently declared a semiannual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were given a dividend of $1.806 per share. This represents a yield of 6.19%. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.27. The ex-dividend date was Thursday, March 7th. Rio Tinto’s dividend payout ratio (DPR) is currently 71.01%.
Rio Tinto Company Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
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