LGT Group Foundation Decreases Stock Position in Rio Tinto PLC (NYSE:RIO)

LGT Group Foundation trimmed its holdings in Rio Tinto PLC (NYSE:RIO) by 15.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,928 shares of the mining company’s stock after selling 887 shares during the period. LGT Group Foundation’s holdings in Rio Tinto were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after purchasing an additional 326,661 shares in the last quarter. Auto Owners Insurance Co raised its position in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Northern Trust Corp raised its position in shares of Rio Tinto by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after purchasing an additional 255,151 shares in the last quarter. Deutsche Bank AG raised its position in shares of Rio Tinto by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Finally, Todd Asset Management LLC raised its position in shares of Rio Tinto by 0.3% in the 1st quarter. Todd Asset Management LLC now owns 1,071,017 shares of the mining company’s stock valued at $64,347,000 after purchasing an additional 2,835 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Price Performance

Shares of NYSE RIO opened at $63.55 on Thursday. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The business’s fifty day moving average price is $59.76 and its two-hundred day moving average price is $60.32. The firm has a market capitalization of $79.69 billion, a PE ratio of 9.85 and a beta of 0.64.

Rio Tinto Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 15th will be given a $1.48 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 620.0%. Rio Tinto’s dividend payout ratio (DPR) is currently 69.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RIO shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen lowered Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

About Rio Tinto

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.