Dimensional Fund Advisors LP reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,611,630 shares of the mining company’s stock after selling 39,985 shares during the period. Dimensional Fund Advisors LP owned approximately 0.09% of Rio Tinto PLC worth $50,444,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning increased its stake in shares of Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock valued at $478,000 after buying an additional 2,685 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Rio Tinto PLC by 979.3% in the second quarter. NEXT Financial Group Inc now owns 6,044 shares of the mining company’s stock valued at $189,000 after buying an additional 5,484 shares during the last quarter. LPL Financial LLC increased its stake in shares of Rio Tinto PLC by 20.8% in the first quarter. LPL Financial LLC now owns 46,173 shares of the mining company’s stock valued at $1,261,000 after buying an additional 7,964 shares during the last quarter. Springbok Capital Management LLC acquired a new stake in shares of Rio Tinto PLC during the first quarter valued at approximately $935,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Rio Tinto PLC by 25.9% in the first quarter. Envestnet Asset Management Inc. now owns 85,598 shares of the mining company’s stock valued at $2,420,000 after buying an additional 17,592 shares during the last quarter. 6.74% of the stock is currently owned by institutional investors.
Rio Tinto PLC (NYSE:RIO) traded down 0.06% during midday trading on Friday, hitting $33.16. 6,391,279 shares of the stock were exchanged. Rio Tinto PLC has a 1-year low of $21.89 and a 1-year high of $39.37. The firm has a market capitalization of $59.65 billion, a P/E ratio of 1507.27 and a beta of 1.47. The firm’s 50-day moving average price is $31.78 and its 200 day moving average price is $30.81.
The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 10th.
A number of research firms have issued reports on RIO. Vetr cut Rio Tinto PLC from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a report on Wednesday, July 27th. Investec reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Morgan Stanley upgraded Rio Tinto PLC from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $55.00 in a report on Tuesday, June 28th. Argus reiterated a “buy” rating and set a $36.00 target price on shares of Rio Tinto PLC in a report on Monday, June 27th. Finally, Liberum Capital reiterated a “sell” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Rio Tinto PLC presently has an average rating of “Hold” and a consensus price target of $34.44.
About Rio Tinto PLC
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
Receive News & Ratings for Rio Tinto PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto PLC and related companies with MarketBeat.com's FREE daily email newsletter.