Manning & Napier Group LLC Grows Holdings in Rio Tinto plc ADR (RIO)

Share on StockTwits

Manning & Napier Group LLC grew its holdings in Rio Tinto plc ADR (NYSE:RIO) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,304 shares of the mining company’s stock after purchasing an additional 1,804 shares during the quarter. Manning & Napier Group LLC’s holdings in Rio Tinto were worth $5,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIO. Trust Department MB Financial Bank N A purchased a new stake in shares of Rio Tinto during the 3rd quarter valued at approximately $102,000. Neville Rodie & Shaw Inc. raised its position in Rio Tinto by 2.8% in the third quarter. Neville Rodie & Shaw Inc. now owns 58,700 shares of the mining company’s stock valued at $2,995,000 after purchasing an additional 1,600 shares during the period. Northern Trust Corp raised its position in Rio Tinto by 4.3% in the second quarter. Northern Trust Corp now owns 1,233,665 shares of the mining company’s stock valued at $68,444,000 after purchasing an additional 51,297 shares during the period. Bank of New York Mellon Corp raised its position in Rio Tinto by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 50,485 shares of the mining company’s stock valued at $2,801,000 after purchasing an additional 5,886 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Rio Tinto in the second quarter valued at approximately $300,000. 7.12% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on RIO. Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a research report on Tuesday. ValuEngine lowered Rio Tinto from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. raised Rio Tinto from a “neutral” rating to an “overweight” rating in a research report on Monday, September 10th. Investec lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Finally, Liberum Capital raised Rio Tinto from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Rio Tinto presently has an average rating of “Hold” and an average target price of $57.06.

NYSE:RIO opened at $49.19 on Friday. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 10.27 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41. Rio Tinto plc ADR has a 52 week low of $45.62 and a 52 week high of $60.72.

The firm also recently declared a semiannual dividend, which was paid on Thursday, September 20th. Shareholders of record on Friday, August 10th were paid a $1.271 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a dividend yield of 4.9%. Rio Tinto’s dividend payout ratio (DPR) is 53.03%.

Rio Tinto 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, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

Featured Article: Index Funds

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply