Signaturefd LLC Reduces Stake in Rio Tinto PLC $RIO

Key Points

• Signaturefd LLC reduced its stake in Rio Tinto PLC by 20.8% in the second quarter, owning 15,870 shares worth approximately $926,000 after selling 4,169 shares.
• The company recently declared a semi-annual dividend of $1.48 per share, with a yield of 620.0%, and a payout ratio of 45.74%.
• Multiple analysts have rated Rio Tinto, with a consensus rating of "Moderate Buy" and a target price of $73.00, reflecting mixed opinions on the company's stock performance.

Signaturefd LLC decreased its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 20.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,870 shares of the mining company's stock after selling 4,169 shares during the period. Signaturefd LLC's holdings in Rio Tinto were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RIO. Wealth Enhancement Advisory Services LLC lifted its holdings in Rio Tinto by 58.9% during the 4th 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 raised its holdings in shares of Rio Tinto by 8,119.5% in the 1st quarter. GAMMA Investing LLC now owns 152,964 shares of the mining company's stock valued at $9,190,000 after acquiring an additional 151,103 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Rio Tinto by 6.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,274 shares of the mining company's stock valued at $317,000 after acquiring an additional 331 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Rio Tinto by 3.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 8,161 shares of the mining company's stock valued at $490,000 after acquiring an additional 286 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Rio Tinto by 5.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 12,321 shares of the mining company's stock valued at $740,000 after acquiring an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $65.81 on Tuesday. The business's 50-day moving average price is $62.39 and its 200-day moving average price is $60.46. 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 PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The firm has a market capitalization of $82.54 billion, a PE ratio of 10.20 and a beta of 0.66.

Rio Tinto Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were given a dividend of $1.48 per share. This represents a yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto's dividend payout ratio (DPR) is presently 45.74%.

Analyst Upgrades and Downgrades

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