Fractal Investments LLC Sells 16,701 Shares of Rio Tinto Group (NYSE:RIO)

Fractal Investments LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 67.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,200 shares of the mining company’s stock after selling 16,701 shares during the quarter. Fractal Investments LLC’s holdings in Rio Tinto Group were worth $611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc grew its holdings in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. SouthState Corp bought a new stake in shares of Rio Tinto Group during the 3rd quarter valued at about $32,000. Parkside Financial Bank & Trust grew its stake in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Financial Management Professionals Inc. increased its stake in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group during the 4th quarter valued at approximately $47,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.3 %

Shares of Rio Tinto Group stock traded up $1.50 on Wednesday, reaching $68.15. 3,403,156 shares of the stock were exchanged, compared to its average volume of 2,979,788. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The business has a 50 day moving average price of $64.88 and a two-hundred day moving average price of $67.22. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

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 issued a $2.58 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend was Thursday, March 7th.

Analyst Upgrades and Downgrades

Several brokerages have commented on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. 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. Finally, Liberum Capital restated 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, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

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.