First Trust Direct Indexing L.P. Has $1.16 Million Stake in Rio Tinto Group (NYSE:RIO)

First Trust Direct Indexing L.P. lowered its holdings in shares of Rio Tinto Group (NYSE:RIOFree Report) by 18.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,141 shares of the mining company’s stock after selling 4,159 shares during the period. First Trust Direct Indexing L.P.’s holdings in Rio Tinto Group were worth $1,156,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RIO. Schonfeld Strategic Advisors LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter valued at $1,865,000. Glenmede Trust Co. NA boosted its position in shares of Rio Tinto Group by 69.3% during the third quarter. Glenmede Trust Co. NA now owns 9,350 shares of the mining company’s stock valued at $595,000 after buying an additional 3,828 shares during the last quarter. Lido Advisors LLC raised its position in Rio Tinto Group by 0.9% in the 3rd quarter. Lido Advisors LLC now owns 48,045 shares of the mining company’s stock valued at $3,058,000 after buying an additional 436 shares during the last quarter. Sei Investments Co. lifted its stake in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after acquiring an additional 111,623 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in Rio Tinto Group by 0.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after acquiring an additional 150 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 2.9 %

NYSE RIO opened at $67.90 on Friday. The company’s 50 day moving average is $68.78 and its 200-day moving average is $68.02. Rio Tinto Group has a 12-month low of $58.27 and a 12-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.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Read Our Latest Research Report 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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