Ingalls & Snyder LLC Has $645,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Ingalls & Snyder LLC cut its holdings in Rio Tinto Group (NYSE:RIO) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,658 shares of the mining company’s stock after selling 200 shares during the period. Ingalls & Snyder LLC’s holdings in Rio Tinto Group were worth $645,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cowa LLC acquired a new position in shares of Rio Tinto Group during the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Rio Tinto Group during the third quarter worth approximately $27,000. AdvisorNet Financial Inc increased its stake in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. First Manhattan Co. raised its holdings in Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $32,000. 19.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Performance

RIO stock opened at $65.99 on Friday. The firm has a 50-day moving average price of $65.02 and a 200-day moving average price of $66.95. 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.

Rio Tinto Group Increases Dividend

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

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.