Montag A & Associates Inc. increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,878 shares of the mining company’s stock after buying an additional 588 shares during the period. Montag A & Associates Inc.’s holdings in Rio Tinto PLC were worth $4,014,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock worth $103,570,000 after buying an additional 553,424 shares during the last quarter. Jennison Associates LLC raised its stake in Rio Tinto PLC by 53.4% in the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock worth $66,691,000 after buying an additional 548,476 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in Rio Tinto PLC during the first quarter worth about $62,865,000. Nikko Asset Management Americas Inc. raised its stake in Rio Tinto PLC by 6.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,139,064 shares of the mining company’s stock worth $46,337,000 after buying an additional 71,900 shares during the last quarter. Finally, Todd Asset Management LLC bought a new stake in Rio Tinto PLC during the first quarter worth about $44,378,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC (NYSE:RIO) traded up 1.25% during mid-day trading on Monday, hitting $45.20. The stock had a trading volume of 247,131 shares. The firm’s 50-day moving average is $45.16 and its 200 day moving average is $42.11. Rio Tinto PLC has a one year low of $29.62 and a one year high of $48.03. The stock has a market cap of $81.04 billion, a PE ratio of 13.18 and a beta of 0.98.

The firm also recently announced a None dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.

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A number of equities research analysts recently issued reports on RIO shares. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $52.00 target price on Rio Tinto PLC and gave the company a “buy” rating in a research note on Friday. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BidaskClub lowered Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.00.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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

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