Parkside Financial Bank & Trust Buys 156 Shares of Rio Tinto Group (NYSE:RIO)

Parkside Financial Bank & Trust grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 39.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 553 shares of the mining company’s stock after purchasing an additional 156 shares during the period. Parkside Financial Bank & Trust’s holdings in Rio Tinto Group were worth $41,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Community Bank & Trust Waco Texas bought a new stake in Rio Tinto Group during the 4th quarter worth approximately $512,000. New York State Common Retirement Fund grew its holdings in shares of Rio Tinto Group by 50.1% in the fourth quarter. New York State Common Retirement Fund now owns 340,716 shares of the mining company’s stock valued at $25,370,000 after acquiring an additional 113,778 shares in the last quarter. RWA Wealth Partners LLC bought a new position in shares of Rio Tinto Group in the fourth quarter valued at approximately $3,331,000. Signaturefd LLC grew its holdings in shares of Rio Tinto Group by 6.5% in the fourth quarter. Signaturefd LLC now owns 23,940 shares of the mining company’s stock valued at $1,783,000 after acquiring an additional 1,466 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Rio Tinto Group by 16.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,664 shares of the mining company’s stock valued at $198,000 after acquiring an additional 385 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIO. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group started coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital reissued 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 given a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $68.23 on Friday. The stock’s fifty day moving average price is $64.86 and its two-hundred day moving average price is $67.27. Rio Tinto Group has a 1 year low of $58.27 and a 1 year 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 business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders 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 represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.