Rio Tinto Group (NYSE:RIO) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lowered its holdings in shares of Rio Tinto Group (NYSE:RIO) by 54.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,304 shares of the mining company’s stock after selling 1,550 shares during the period. Headlands Technologies LLC’s holdings in Rio Tinto Group were worth $97,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc raised its position in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares during the last quarter. SouthState Corp acquired a new position in Rio Tinto Group in the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust lifted its stake in shares of Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Financial Management Professionals Inc. boosted its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rio Tinto Group Stock Up 1.1 %

RIO opened at $69.02 on Tuesday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month 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. The firm’s fifty day moving average price is $64.86 and its 200 day moving average price is $67.38.

Rio Tinto Group Increases Dividend

The company also recently announced 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. This represents a yield of 6.6%. 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.

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.