Rio Tinto Group (NYSE:RIO) Stake Lessened by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc cut its stake in Rio Tinto Group (NYSE:RIO) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,990 shares of the mining company’s stock after selling 300 shares during the period. O Brien Greene & Co. Inc’s holdings in Rio Tinto Group were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. AdvisorNet Financial Inc boosted its holdings in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after buying an additional 330 shares in the last quarter. SouthState Corp bought a new stake in Rio Tinto Group during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in Rio Tinto Group during the fourth quarter worth approximately $47,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $68.24 on Friday. The company has a 50 day moving average price of $64.86 and a 200 day moving average price of $67.27. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

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 paid a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Rio Tinto Group Company 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.