Compound Planning Inc. Acquires 7,230 Shares of Rio Tinto PLC $RIO

Key Points

• Compound Planning Inc. has increased its stake in Rio Tinto PLC by 58.4%, owning 19,613 shares valued at approximately $1.18 million as of the latest reporting period.
• Institutional investors collectively own 19.33% of Rio Tinto's stock, with multiple funds, including Bessemer Group Inc. and Farther Finance Advisors LLC, also increasing their holdings significantly in the first quarter.
• Rio Tinto's shares were downgraded to a "hold" rating by Deutsche Bank, while other analysts like Morgan Stanley and Barclays maintained an "overweight" rating, resulting in an average rating of "Moderate Buy" and a consensus target price of $73.00.

Compound Planning Inc. grew its holdings in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 58.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,613 shares of the mining company's stock after acquiring an additional 7,230 shares during the period. Compound Planning Inc.'s holdings in Rio Tinto were worth $1,178,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Auto Owners Insurance Co boosted its position in shares of Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Rio Tinto by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock worth $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. boosted its position in shares of Rio Tinto by 119.2% during the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock worth $2,423,000 after purchasing an additional 807,610 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Rio Tinto during the 4th quarter worth about $40,032,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock worth $116,510,000 after purchasing an additional 490,357 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the topic of several recent research reports. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Price Performance

Shares of Rio Tinto stock traded up $0.15 during trading on Friday, hitting $63.03. The stock had a trading volume of 845,221 shares, compared to its average volume of 3,305,918. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The business's 50-day moving average is $60.50 and its 200 day moving average is $60.37. The firm has a market cap of $79.04 billion, a price-to-earnings ratio of 9.77 and a beta of 0.64. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

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