Fulton Bank N.A. boosted its stake in Rio Tinto Group (NYSE:RIO – Get Rating) by 25.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,577 shares of the mining company’s stock after buying an additional 1,115 shares during the period. Fulton Bank N.A.’s holdings in Rio Tinto Group were worth $397,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of RIO. Arrowstreet Capital Limited Partnership grew its position in shares of Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after purchasing an additional 4,783,488 shares in the last quarter. Capital World Investors grew its position in shares of Rio Tinto Group by 4.2% during the 1st quarter. Capital World Investors now owns 8,484,992 shares of the mining company’s stock worth $682,195,000 after purchasing an additional 344,145 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Rio Tinto Group by 203.8% during the 2nd quarter. Franklin Resources Inc. now owns 6,188,218 shares of the mining company’s stock worth $377,482,000 after purchasing an additional 4,151,342 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Rio Tinto Group by 26.9% during the 1st 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 grew its position in shares of Rio Tinto Group by 11.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,460,303 shares of the mining company’s stock worth $300,654,000 after purchasing an additional 551,359 shares in the last quarter. Institutional investors and hedge funds own 10.43% of the company’s stock.
Analyst Ratings Changes
RIO has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, March 2nd. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Thursday, December 1st. Berenberg Bank raised shares of Rio Tinto Group from a “sell” rating to a “buy” rating in a report on Thursday, January 12th. BNP Paribas downgraded shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a report on Monday, February 13th. Finally, CLSA raised shares of Rio Tinto Group from an “underperform” rating to an “outperform” rating in a report on Monday, March 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5,790.00.
Rio Tinto Group Trading Down 0.1 %
Rio Tinto Group Cuts Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 10th will be paid a $2.25 dividend. This represents a yield of 9.8%. The ex-dividend date is Thursday, March 9th.
Rio Tinto Group Company Profile
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.
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