Rio Tinto Group (NYSE:RIO) Stock Holdings Reduced by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in Rio Tinto Group (NYSE:RIOFree Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,015 shares of the mining company’s stock after selling 2,098 shares during the quarter. Fifth Third Bancorp’s holdings in Rio Tinto Group were worth $3,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the first quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rio Tinto Group in the third quarter worth about $27,000. First Manhattan Co. lifted its position in shares of Rio Tinto Group by 555.4% in the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after buying an additional 361 shares during the last quarter. SouthState Corp acquired a new stake in shares of Rio Tinto Group in the third quarter worth about $32,000. Finally, Financial Management Professionals Inc. lifted its position in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE RIO opened at $65.09 on Wednesday. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The stock has a 50-day simple moving average of $65.83 and a 200 day simple moving average of $66.91.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

RIO has been the subject of a number of analyst reports. BNP Paribas raised Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 5th. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Check Out Our Latest Analysis on RIO

Rio Tinto Group Company Profile

(Free Report)

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

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