Acadian Asset Management LLC Has $3.46 Million Holdings in Rio Tinto PLC $RIO

Key Points

• Acadian Asset Management LLC increased its stake in Rio Tinto PLC by 37.9%, owning 57,595 shares valued at approximately $3.46 million.
• Rio Tinto declared a semi-annual dividend of $1.48 per share, which will be paid on September 25th, representing a 620.0% yield.
• The average analyst rating for Rio Tinto is "Moderate Buy" with a target price of $73.00, reflecting mixed sentiment among equity research analysts.

Acadian Asset Management LLC raised its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 37.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,595 shares of the mining company's stock after acquiring an additional 15,839 shares during the quarter. Acadian Asset Management LLC's holdings in Rio Tinto were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. Alpine Bank Wealth Management acquired a new stake in Rio Tinto in the 1st quarter valued at about $30,000. Wayfinding Financial LLC acquired a new stake in shares of Rio Tinto during the 1st quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new stake in shares of Rio Tinto during the 1st quarter worth approximately $30,000. Bfsg LLC grew its position in shares of Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock worth $39,000 after buying an additional 633 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in shares of Rio Tinto during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Stock Performance

Shares of RIO stock opened at $62.39 on Monday. The company's fifty day simple moving average is $61.50 and its 200-day simple moving average is $60.33. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The firm has a market cap of $78.25 billion, a PE ratio of 9.67 and a beta of 0.66. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08.

Rio Tinto Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a dividend of $1.48 per share. This represents a yield of 620.0%. The ex-dividend date of this dividend is Friday, August 15th. Rio Tinto's dividend payout ratio is 45.74%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RIO shares. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Morgan Stanley restated an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Rio Tinto has an average rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.

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