Rio Tinto Group (NYSE:RIO) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. decreased its position in shares of Rio Tinto Group (NYSE:RIO) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,027 shares of the mining company’s stock after selling 3,412 shares during the quarter. Wright Investors Service Inc.’s holdings in Rio Tinto Group were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cowa LLC purchased a new position in Rio Tinto Group during the first quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Rio Tinto Group during the third quarter valued at approximately $27,000. AdvisorNet Financial Inc raised its position in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. First Manhattan Co. raised its position in Rio Tinto Group by 555.4% during the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Finally, SouthState Corp purchased a new position in Rio Tinto Group during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.31 on Thursday, reaching $67.09. The company’s stock had a trading volume of 1,536,412 shares, compared to its average volume of 2,942,196. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The stock has a 50-day moving average price of $64.92 and a 200-day moving average price of $67.02. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be paid a $2.58 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%.

Wall Street Analyst Weigh In

RIO has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

About Rio Tinto Group

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.