Sequoia Financial Advisors LLC Acquires 5,750 Shares of Rio Tinto PLC $RIO

Sequoia Financial Advisors LLC lifted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 63.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,840 shares of the mining company’s stock after purchasing an additional 5,750 shares during the period. Sequoia Financial Advisors LLC’s holdings in Rio Tinto were worth $866,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Amundi lifted its stake in shares of Rio Tinto by 224.0% during the first quarter. Amundi now owns 230,891 shares of the mining company’s stock valued at $13,491,000 after acquiring an additional 159,636 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rio Tinto during the first quarter valued at $357,000. Acadian Asset Management LLC lifted its stake in shares of Rio Tinto by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock valued at $3,458,000 after acquiring an additional 15,839 shares during the period. Central Valley Advisors LLC acquired a new position in shares of Rio Tinto during the second quarter valued at $1,530,000. Finally, Bessemer Group Inc. lifted its stake in shares of Rio Tinto by 61.8% during the first quarter. Bessemer Group Inc. now owns 5,195 shares of the mining company’s stock valued at $312,000 after acquiring an additional 1,985 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RIO shares. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Down 0.9%

NYSE:RIO opened at $68.12 on Friday. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $69.30. The business’s 50-day moving average price is $63.95 and its two-hundred day moving average price is $60.95. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $85.43 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 5.44 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto’s dividend payout ratio (DPR) 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.