abrdn plc Has $16.02 Million Stock Position in Rio Tinto Group (NYSE:RIO)

abrdn plc boosted its stake in Rio Tinto Group (NYSE:RIO) by 8.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 215,100 shares of the mining company’s stock after buying an additional 17,400 shares during the period. abrdn plc’s holdings in Rio Tinto Group were worth $16,016,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dana Investment Advisors Inc. grew its stake in Rio Tinto Group by 0.5% in the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after buying an additional 150 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Rio Tinto Group by 1.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after buying an additional 172 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Rio Tinto Group by 2.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after buying an additional 172 shares during the last quarter. Uncommon Cents Investing LLC grew its stake in Rio Tinto Group by 0.3% in the 4th quarter. Uncommon Cents Investing LLC now owns 56,090 shares of the mining company’s stock valued at $4,176,000 after buying an additional 175 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in Rio Tinto Group by 4.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,464 shares of the mining company’s stock valued at $284,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $68.15 on Thursday. The company has a 50 day moving average of $64.88 and a 200-day moving average of $67.22. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. 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 was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were issued a dividend of $2.58 per share. This represents a dividend yield of 6.6%. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Analyst Ratings Changes

RIO has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group 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.