Rio Tinto Group (NYSE:RIO) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Rio Tinto Group (NYSE:RIO) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,869 shares of the mining company’s stock after buying an additional 5,058 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rio Tinto Group were worth $4,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 10.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter valued at about $7,954,000. Sei Investments Co. lifted its stake in shares of Rio Tinto Group by 18.3% in the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares in the last quarter. Morgan Stanley lifted its stake in shares of Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of Rio Tinto Group by 88.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after purchasing an additional 3,852 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.8 %

Shares of NYSE:RIO opened at $66.63 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The business’s 50-day simple moving average is $64.86 and its 200 day simple moving average is $67.21.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were issued a dividend of $2.58 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group initiated coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group 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.