Rio Tinto Group (NYSE:RIO) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lessened its stake in shares of Rio Tinto Group (NYSE:RIO – Get Rating) by 29.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,986 shares of the mining company’s stock after selling 15,080 shares during the period. CENTRAL TRUST Co’s holdings in Rio Tinto Group were worth $1,981,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in Rio Tinto Group by 58.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after buying an additional 4,783,488 shares during the last quarter. Capital World Investors increased its holdings in shares of Rio Tinto Group by 4.2% in the first quarter. Capital World Investors now owns 8,484,992 shares of the mining company’s stock valued at $682,195,000 after purchasing an additional 344,145 shares in the last quarter. Franklin Resources Inc. boosted its stake in Rio Tinto Group by 203.8% in the second quarter. Franklin Resources Inc. now owns 6,188,218 shares of the mining company’s stock valued at $377,482,000 after acquiring an additional 4,151,342 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Rio Tinto Group by 26.9% during the first quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company’s stock worth $440,253,000 after purchasing an additional 1,161,737 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Rio Tinto Group by 11.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 5,460,303 shares of the mining company’s stock valued at $300,654,000 after acquiring an additional 551,359 shares in the last quarter. 10.43% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

NYSE RIO opened at $65.87 on Thursday. Rio Tinto Group has a 12 month low of $50.92 and a 12 month high of $83.21. The company’s 50 day moving average is $74.36 and its two-hundred day moving average is $65.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.10 and a current ratio of 1.64.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 20th. Shareholders of record on Friday, March 10th will be paid a dividend of $2.25 per share. This represents a yield of 9.8%. The ex-dividend date of this dividend is Thursday, March 9th.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RIO shares. The Goldman Sachs Group upgraded shares of Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, March 2nd. BNP Paribas lowered shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Monday, February 13th. Barclays raised shares of Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a research note on Thursday, January 12th. Morgan Stanley increased their price objective on shares of Rio Tinto Group from GBX 5,750 ($70.08) to GBX 5,790 ($70.57) in a research note on Monday, January 23rd. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “sell” rating to a “buy” rating in a research note on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5,790.00.

Rio Tinto Group Profile

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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.