Naviter Wealth LLC Has $1.60 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Naviter Wealth LLC boosted its holdings in Rio Tinto Group (NYSE:RIO) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,459 shares of the mining company’s stock after purchasing an additional 4,719 shares during the quarter. Naviter Wealth LLC’s holdings in Rio Tinto Group were worth $1,598,000 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. Wellington Management Group LLP increased its holdings in shares of Rio Tinto Group by 41.0% during the third 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 boosted its position in shares of Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after buying an additional 118,706 shares during the last quarter. Acadian Asset Management LLC grew its position in Rio Tinto Group by 5.9% during the third quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock valued at $184,721,000 after buying an additional 161,532 shares during the period. Northern Trust Corp increased its holdings in Rio Tinto Group by 0.9% during the third quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock worth $120,485,000 after buying an additional 17,401 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Rio Tinto Group by 33.5% during the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock worth $61,437,000 after buying an additional 242,313 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.8 %

Shares of RIO traded up $0.54 during trading hours on Monday, hitting $68.78. The company’s stock had a trading volume of 1,184,997 shares, compared to its average volume of 2,960,926. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The business has a 50 day simple moving average of $64.86 and a two-hundred day simple moving average of $67.33. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group 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.