Stock Yards Bank & Trust Co. Purchases 7,501 Shares of Rio Tinto PLC $RIO

Stock Yards Bank & Trust Co. boosted its position in Rio Tinto PLC (NYSE:RIO) by 35.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,600 shares of the mining company’s stock after purchasing an additional 7,501 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Rio Tinto were worth $2,289,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PFS Partners LLC bought a new stake in Rio Tinto in the 4th quarter worth about $28,000. Salomon & Ludwin LLC grew its position in Rio Tinto by 62.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Rio Tinto in the 4th quarter worth about $34,000. Root Financial Partners LLC bought a new position in shares of Rio Tinto during the 3rd quarter valued at approximately $36,000. Finally, Triumph Capital Management bought a new position in shares of Rio Tinto during the 3rd quarter valued at approximately $38,000. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on RIO. Citigroup raised shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. HSBC downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.00.

Rio Tinto Stock Down 0.6%

RIO opened at $93.92 on Tuesday. The company has a 50 day moving average of $93.38 and a 200 day moving average of $80.82. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $101.53. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Rio Tinto Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be issued a $2.54 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a yield of 564.0%.

Rio Tinto Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.