Massey Quick Simon & CO. LLC Invests $62,000 in Rio Tinto plc ADR (RIO)

Massey Quick Simon & CO. LLC bought a new stake in shares of Rio Tinto plc ADR (NYSE:RIO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,050 shares of the mining company’s stock, valued at approximately $62,000.

Several other large investors also recently bought and sold shares of RIO. First Bank & Trust bought a new position in Rio Tinto in the 1st quarter worth approximately $29,000. Berman Capital Advisors LLC acquired a new stake in shares of Rio Tinto during the 4th quarter valued at $25,000. Doyle Wealth Management acquired a new stake in shares of Rio Tinto during the 4th quarter valued at $39,000. Financial Gravity Companies Inc. acquired a new stake in shares of Rio Tinto during the 4th quarter valued at $46,000. Finally, Legacy Advisors LLC acquired a new stake in shares of Rio Tinto during the 1st quarter valued at $74,000. 7.89% of the stock is owned by institutional investors.

Shares of NYSE:RIO opened at $60.34 on Wednesday. Rio Tinto plc ADR has a 12-month low of $44.62 and a 12-month high of $63.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98.

The business also recently declared a semiannual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be paid a $1.806 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Rio Tinto’s previous semiannual dividend of $1.27. This represents a dividend yield of 6.19%. Rio Tinto’s dividend payout ratio is 71.01%.

A number of brokerages have recently commented on RIO. Zacks Investment Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. BNP Paribas downgraded shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 10th. Exane BNP Paribas downgraded shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 10th. Vertical Group raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Vertical Research raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.33.

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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, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

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

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