Stephens Inc. AR Lowers Position in Rio Tinto PLC $RIO

Key Points

• Stephens Inc. AR reduced its stake in Rio Tinto PLC by 22.3% in Q2, owning 62,042 shares valued at approximately $3.62 million.
• Rio Tinto recently announced a semi-annual dividend of $1.48 per share, reflecting a sizable yield of 620.0%.
• Wall Street analysts have mixed sentiments on Rio Tinto, with ratings ranging from Strong Buy to Hold, resulting in an average price target of $73.00.

Stephens Inc. AR lessened its holdings in Rio Tinto PLC (NYSE:RIO - Free Report) by 22.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,042 shares of the mining company's stock after selling 17,831 shares during the period. Stephens Inc. AR's holdings in Rio Tinto were worth $3,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Uhlmann Price Securities LLC raised its position in shares of Rio Tinto by 5.5% in the second quarter. Uhlmann Price Securities LLC now owns 5,000 shares of the mining company's stock worth $292,000 after buying an additional 259 shares in the last quarter. TrueMark Investments LLC raised its position in Rio Tinto by 18.3% during the second quarter. TrueMark Investments LLC now owns 30,591 shares of the mining company's stock valued at $1,784,000 after purchasing an additional 4,738 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new stake in Rio Tinto during the second quarter valued at about $718,000. Oxbow Advisors LLC raised its position in Rio Tinto by 2.2% during the second quarter. Oxbow Advisors LLC now owns 63,988 shares of the mining company's stock valued at $3,732,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in Rio Tinto by 8.6% during the second quarter. Mutual Advisors LLC now owns 8,328 shares of the mining company's stock valued at $526,000 after purchasing an additional 658 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Down 1.1%

NYSE RIO opened at $68.48 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. The stock has a market capitalization of $85.88 billion, a PE ratio of 10.62, a PEG ratio of 5.50 and a beta of 0.66. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $69.30. The business's 50-day moving average is $64.20 and its 200 day moving average is $61.13.

Rio Tinto Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders 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 of this dividend was Friday, August 15th. Rio Tinto's payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RIO. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Three 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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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