Rio Tinto Group (NYSE:RIO) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC increased its position in Rio Tinto Group (NYSE:RIO) by 16.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,664 shares of the mining company’s stock after acquiring an additional 385 shares during the quarter. Lindbrook Capital LLC’s holdings in Rio Tinto Group were worth $198,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Schechter Investment Advisors LLC increased its position in shares of Rio Tinto Group by 10.9% in the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after buying an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Rio Tinto Group during the fourth quarter worth about $7,954,000. Sei Investments Co. grew its position in shares of Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares during the last quarter. Morgan Stanley increased its position in Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after buying an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIO has been the subject of several analyst reports. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Two equities 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 stock. According to MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Stock Up 0.3 %

RIO opened at $67.20 on Tuesday. The company has a 50 day moving average of $64.86 and a two-hundred day moving average of $67.18. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were issued a $2.58 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date was Thursday, March 7th.

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.