Capital Investment Advisors LLC Trims Stock Holdings in Rio Tinto PLC $RIO

Key Points

• Capital Investment Advisors LLC reduced its holdings in Rio Tinto PLC by 9.8%, owning 73,650 shares worth approximately $4.3 million after selling 7,986 shares in Q2.
• Several large investors made significant adjustments to their stakes in Rio Tinto, with GAMMA Investing LLC increasing its holdings by 8,119.5% during Q1.
• Analysts have set a consensus target price of $73.00 for Rio Tinto, with ratings ranging from "Strong Buy" to "Hold" from various brokerages.

Capital Investment Advisors LLC decreased its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,650 shares of the mining company's stock after selling 7,986 shares during the period. Capital Investment Advisors LLC's holdings in Rio Tinto were worth $4,296,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RIO. Wealth Enhancement Advisory Services LLC increased its stake in shares of Rio Tinto by 58.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 95,205 shares of the mining company's stock worth $5,599,000 after purchasing an additional 35,272 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Rio Tinto by 8,119.5% in the first quarter. GAMMA Investing LLC now owns 152,964 shares of the mining company's stock worth $9,190,000 after purchasing an additional 151,103 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Rio Tinto by 6.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,274 shares of the mining company's stock worth $317,000 after purchasing an additional 331 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Rio Tinto by 103,100.0% in the first quarter. NBC Securities Inc. now owns 1,032 shares of the mining company's stock worth $62,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Rio Tinto in the first quarter worth about $251,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RIO. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Monday, July 14th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Price Performance

RIO stock opened at $65.99 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The stock has a market cap of $82.76 billion, a PE ratio of 10.23 and a beta of 0.66. The firm has a 50 day simple moving average of $62.42 and a two-hundred day simple moving average of $60.50.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were issued a $1.48 dividend. This represents a dividend yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto's payout ratio is presently 45.74%.

Rio Tinto Company 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.

Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto PLC (NYSE:RIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.