Stock Yards Bank & Trust Co. Sells 545 Shares of Rio Tinto PLC $RIO

Stock Yards Bank & Trust Co. cut its position in shares of Rio Tinto PLC (NYSE:RIO) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,138 shares of the mining company’s stock after selling 545 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Rio Tinto were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RIO. Auto Owners Insurance Co boosted its holdings in shares of Rio Tinto by 77,150.0% during the 1st 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 in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Rio Tinto during the second quarter worth about $292,770,000. Dimensional Fund Advisors LP grew its holdings in Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after purchasing an additional 490,357 shares during the period. Goldman Sachs Group Inc. grew its holdings in Rio Tinto by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after purchasing an additional 326,661 shares during the period. Finally, Pacific Heights Asset Management LLC increased its stake in shares of Rio Tinto by 300.0% during the first quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock valued at $18,024,000 after purchasing an additional 225,000 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RIO shares. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $66.03 on Monday. The firm’s 50-day moving average price is $62.56 and its 200-day moving average price is $60.53. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $69.92. The company has a market cap of $82.82 billion, a PE ratio of 10.24, a PEG ratio of 4.75 and a beta of 0.66. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were paid a dividend of $1.48 per share. The ex-dividend date was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto’s payout ratio is currently 45.74%.

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.