OLD National Bancorp IN Trims Stock Position in Rio Tinto Group (NYSE:RIO)

OLD National Bancorp IN cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of Rio Tinto Group by 44.9% in the 3rd quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company’s stock worth $1,034,000 after purchasing an additional 5,034 shares during the period. SOL Capital Management CO raised its holdings in shares of Rio Tinto Group by 6.3% during the 3rd quarter. SOL Capital Management CO now owns 4,205 shares of the mining company’s stock valued at $268,000 after buying an additional 250 shares during the period. Simplicity Solutions LLC raised its holdings in shares of Rio Tinto Group by 6.2% during the 3rd quarter. Simplicity Solutions LLC now owns 5,017 shares of the mining company’s stock valued at $319,000 after buying an additional 294 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 6.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 47,357 shares of the mining company’s stock valued at $3,014,000 after buying an additional 2,951 shares during the period. Finally, Uncommon Cents Investing LLC raised its holdings in shares of Rio Tinto Group by 0.7% during the 3rd quarter. Uncommon Cents Investing LLC now owns 55,915 shares of the mining company’s stock valued at $3,558,000 after buying an additional 375 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.5 %

Shares of RIO opened at $67.78 on Friday. The business’s fifty day moving average price is $64.88 and its 200 day moving average price is $67.22. 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 quick ratio of 1.17 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a dividend of $2.58 per share. 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. This represents a dividend yield of 6.6%.

Wall Street Analysts Forecast Growth

RIO has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.