Manning & Napier Group LLC Has $5.63 Million Position in Rio Tinto plc ADR (RIO)

Manning & Napier Group LLC increased its position in shares of Rio Tinto plc ADR (NYSE:RIO) by 1.7% in the third quarter, HoldingsChannel reports. The firm owned 110,304 shares of the mining company’s stock after acquiring 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.

Other hedge funds have also recently modified their holdings of the company. Naples Global Advisors LLC grew its stake in shares of Rio Tinto by 8.4% during the second quarter. Naples Global Advisors LLC now owns 47,545 shares of the mining company’s stock worth $2,638,000 after purchasing an additional 3,700 shares in the last quarter. Boston Partners grew its stake in shares of Rio Tinto by 2,390.4% during the second quarter. Boston Partners now owns 3,204,017 shares of the mining company’s stock worth $177,759,000 after purchasing an additional 3,075,360 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Rio Tinto by 11.3% during the second quarter. Baird Financial Group Inc. now owns 115,456 shares of the mining company’s stock worth $6,405,000 after purchasing an additional 11,742 shares in the last quarter. Liberty Mutual Group Asset Management Inc. grew its stake in shares of Rio Tinto by 54.8% during the second quarter. Liberty Mutual Group Asset Management Inc. now owns 21,984 shares of the mining company’s stock worth $1,220,000 after purchasing an additional 7,784 shares in the last quarter. Finally, Landmark Bank acquired a new position in shares of Rio Tinto during the second quarter worth $1,291,000. Hedge funds and other institutional investors own 7.12% of the company’s stock.

NYSE RIO opened at $49.19 on Friday. 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 1 year low of $45.62 and a 1 year high of $60.72. 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 business also recently disclosed 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 was Thursday, August 9th. This represents a yield of 4.9%. Rio Tinto’s dividend payout ratio is presently 53.03%.

Several equities analysts have issued reports on RIO shares. JPMorgan Chase & Co. upgraded shares of Rio Tinto from a “neutral” rating to an “overweight” rating in a research note on Monday, September 10th. ValuEngine downgraded shares of Rio Tinto from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Deutsche Bank restated a “neutral” rating on shares of Rio Tinto in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of Rio Tinto from a “sell” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, June 20th. Finally, Investec downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $57.06.

About Rio Tinto

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.

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

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