Columbus Macro LLC Acquires New Shares in Rio Tinto PLC $RIO

Key Points

• Columbus Macro LLC acquired a new stake in Rio Tinto PLC, purchasing 27,606 shares valued at approximately $1.61 million in Q2.
• Several institutional investors, including Aspen Wealth Strategies LLC and Hamilton Point Investment Advisors LLC, have increased their holdings in Rio Tinto.
• Rio Tinto recently declared a semi-annual dividend of $1.48 per share, reflecting a strong dividend yield of 620.0%.

Columbus Macro LLC acquired a new stake in Rio Tinto PLC (NYSE:RIO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 27,606 shares of the mining company's stock, valued at approximately $1,610,000.

A number of other large investors have also made changes to their positions in RIO. Aspen Wealth Strategies LLC grew its holdings in shares of Rio Tinto by 3.7% in the 1st quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company's stock valued at $289,000 after acquiring an additional 172 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its holdings in shares of Rio Tinto by 0.4% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company's stock valued at $2,767,000 after acquiring an additional 194 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its stake in Rio Tinto by 10.0% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after purchasing an additional 200 shares during the last quarter. Gallacher Capital Management LLC lifted its stake in Rio Tinto by 3.6% in the 1st quarter. Gallacher Capital Management LLC now owns 5,740 shares of the mining company's stock valued at $345,000 after purchasing an additional 201 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in Rio Tinto by 3.0% in the 1st quarter. Stonegate Investment Group LLC now owns 7,025 shares of the mining company's stock valued at $422,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Trading Up 2.1%

Shares of RIO stock opened at $67.66 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $68.18. The firm has a 50 day moving average price of $62.90 and a two-hundred day moving average price of $60.65. The company has a market capitalization of $84.86 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 4.65 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were given 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RIO shares. Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday. Zacks Research upgraded shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.

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