Acrospire Investment Management LLC Buys 299 Shares of Rio Tinto PLC (RIO)

Acrospire Investment Management LLC increased its stake in shares of Rio Tinto PLC (NYSE:RIO) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,599 shares of the mining company’s stock after buying an additional 299 shares during the quarter. Acrospire Investment Management LLC’s holdings in Rio Tinto PLC were worth $110,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Accident Compensation Corp grew its holdings in Rio Tinto PLC by 12.2% during the second quarter. Accident Compensation Corp now owns 91,800 shares of the mining company’s stock worth $3,884,000 after buying an additional 10,000 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Rio Tinto PLC by 3.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,040 shares of the mining company’s stock worth $933,000 after buying an additional 686 shares in the last quarter. Stevens Capital Management LP bought a new stake in Rio Tinto PLC during the second quarter worth $1,078,000. Dorsey & Whitney Trust CO LLC bought a new stake in Rio Tinto PLC during the second quarter worth $332,000. Finally, FNY Partners Fund LP grew its holdings in Rio Tinto PLC by 87.4% during the second quarter. FNY Partners Fund LP now owns 98,967 shares of the mining company’s stock worth $4,187,000 after buying an additional 46,169 shares in the last quarter. Institutional investors and hedge funds own 6.87% of the company’s stock.

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The firm also recently announced a None dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be issued a $1.10 dividend. The ex-dividend date is Wednesday, August 9th.

Several brokerages recently issued reports on RIO. Zacks Investment Research downgraded Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. ValuEngine downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Bank of America Corporation upgraded Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. Finally, Cowen and Company reiterated a “market perform” rating and set a $45.00 price target (down previously from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Rio Tinto PLC currently has an average rating of “Buy” and an average target price of $47.50.

Rio Tinto PLC Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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Institutional Ownership by Quarter for Rio Tinto PLC (NYSE:RIO)

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