Rio Tinto PLC $RIO Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Rio Tinto PLC by 13.0% during the first quarter, owning nearly 50,000 shares valued at approximately $3 million.
• Other large investors, including Goldman Sachs and Auto Owners Insurance Co, also significantly raised their holdings in Rio Tinto, indicating strong institutional interest.
• Rio Tinto recently declared a semi-annual dividend of $1.48 per share, reflecting a yield of 620.0%, amid a payout ratio of 45.74%.

Northwestern Mutual Wealth Management Co. grew its position in Rio Tinto PLC (NYSE:RIO - Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,913 shares of the mining company's stock after purchasing an additional 5,724 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Rio Tinto were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of RIO. Compound Planning Inc. boosted its stake in shares of Rio Tinto by 58.4% in the first quarter. Compound Planning Inc. now owns 19,613 shares of the mining company's stock worth $1,178,000 after acquiring an additional 7,230 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Rio Tinto by 17.7% in the first quarter. Ameriprise Financial Inc. now owns 729,088 shares of the mining company's stock worth $43,832,000 after buying an additional 109,594 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Rio Tinto by 1.1% in the first quarter. Bragg Financial Advisors Inc now owns 100,148 shares of the mining company's stock worth $6,017,000 after buying an additional 1,122 shares in the last quarter. Venture Visionary Partners LLC increased its holdings in Rio Tinto by 6.0% in the 1st quarter. Venture Visionary Partners LLC now owns 37,341 shares of the mining company's stock valued at $2,243,000 after acquiring an additional 2,114 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Rio Tinto in the 1st quarter worth $3,981,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Up 0.7%

NYSE:RIO traded up $0.45 during mid-day trading on Wednesday, hitting $62.34. 494,160 shares of the company's stock traded hands, compared to its average volume of 3,288,397. The company has a market capitalization of $78.19 billion, a P/E ratio of 9.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The company has a fifty day moving average of $60.84 and a 200 day moving average of $60.35. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08.

Rio Tinto Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be paid a $1.48 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto's dividend payout ratio (DPR) is 45.74%.

Wall Street Analyst Weigh In

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

About Rio Tinto

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.