Crossmark Global Holdings Inc. Sells 5,255 Shares of Rio Tinto PLC $RIO

Crossmark Global Holdings Inc. reduced its stake in Rio Tinto PLC (NYSE:RIO) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,921 shares of the mining company’s stock after selling 5,255 shares during the period. Crossmark Global Holdings Inc.’s holdings in Rio Tinto were worth $7,116,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Rio Tinto in the 3rd quarter worth approximately $94,737,000. Bank of America Corp DE lifted its position in shares of Rio Tinto by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after purchasing an additional 763,786 shares during the period. National Bank of Canada FI lifted its position in shares of Rio Tinto by 878.3% in the 3rd quarter. National Bank of Canada FI now owns 824,092 shares of the mining company’s stock worth $54,396,000 after purchasing an additional 739,854 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Rio Tinto in the 3rd quarter worth approximately $37,115,000. Finally, Fisher Asset Management LLC lifted its position in shares of Rio Tinto by 3.0% in the 3rd quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock worth $1,262,122,000 after purchasing an additional 557,234 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. DZ Bank cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Up 2.2%

NYSE RIO opened at $105.33 on Friday. The company has a fifty day simple moving average of $94.80 and a two-hundred day simple moving average of $85.73. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $106.24. 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 Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were issued a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date of this dividend was Friday, March 6th.

Rio Tinto Company 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.