Stratos Wealth Partners LTD. Decreases Stock Holdings in Rio Tinto PLC $RIO

Stratos Wealth Partners LTD. lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,333 shares of the mining company’s stock after selling 570 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rio Tinto were worth $719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RIO. Auto Owners Insurance Co increased its holdings in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after acquiring an additional 7,406,400 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Rio Tinto in the second quarter valued at approximately $292,770,000. Dimensional Fund Advisors LP increased its stake in Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after purchasing an additional 490,357 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after buying an additional 326,661 shares during the last quarter. Finally, Pacific Heights Asset Management LLC lifted its position in shares of Rio Tinto by 300.0% during the 1st quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock worth $18,024,000 after buying an additional 225,000 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Stock Up 2.1%

RIO opened at $69.80 on Thursday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $70.12. The business has a 50 day moving average price of $64.33 and a two-hundred day moving average price of $61.18. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The company has a market cap of $87.53 billion, a PE ratio of 10.82, a P/E/G ratio of 5.43 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. Stockholders of record on Friday, August 15th were paid a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto’s dividend payout ratio is 45.74%.

Wall Street Analysts Forecast Growth

RIO has been the topic of several research analyst reports. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Barclays restated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c)” 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.