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

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

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after acquiring an additional 6,748,799 shares in the last quarter. Morgan Stanley lifted its position in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after acquiring an additional 118,706 shares in the last quarter. Acadian Asset Management LLC lifted its position in Rio Tinto Group by 5.9% in the 3rd quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock valued at $184,721,000 after acquiring an additional 161,532 shares in the last quarter. Northern Trust Corp lifted its position in Rio Tinto Group by 0.9% in the 3rd quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock valued at $120,485,000 after acquiring an additional 17,401 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Rio Tinto Group by 33.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock valued at $61,437,000 after buying an additional 242,313 shares during the period. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. 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 Stock Up 0.7 %

Shares of NYSE:RIO opened at $68.23 on Friday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The stock has a 50 day moving average of $64.86 and a 200 day moving average of $67.27. 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 company 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. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

About Rio Tinto Group

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.