OLD National Bancorp IN Has $337,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

OLD National Bancorp IN lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 23.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,529 shares of the mining company’s stock after selling 1,356 shares during the quarter. OLD National Bancorp IN’s holdings in Rio Tinto Group were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in Rio Tinto Group by 6.5% during the fourth quarter. Signaturefd LLC now owns 23,940 shares of the mining company’s stock valued at $1,783,000 after purchasing an additional 1,466 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Rio Tinto Group by 16.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,664 shares of the mining company’s stock valued at $198,000 after purchasing an additional 385 shares during the last quarter. abrdn plc grew its holdings in Rio Tinto Group by 8.8% during the fourth quarter. abrdn plc now owns 215,100 shares of the mining company’s stock valued at $16,016,000 after purchasing an additional 17,400 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in Rio Tinto Group by 5.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 7,900 shares of the mining company’s stock valued at $588,000 after purchasing an additional 400 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in Rio Tinto Group by 27.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,731 shares of the mining company’s stock valued at $352,000 after purchasing an additional 1,031 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RIO shares. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. Two 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 stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Performance

RIO opened at $67.78 on Friday. The firm’s fifty day moving average price is $64.88 and its two-hundred day moving average price is $67.22. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two 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 disclosed 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. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%.

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.