First Trust Direct Indexing L.P. Has $1.66 Million Position in Rio Tinto Group (NYSE:RIO)

First Trust Direct Indexing L.P. increased its position in shares of Rio Tinto Group (NYSE:RIO) by 68.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,300 shares of the mining company’s stock after acquiring an additional 9,044 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Rio Tinto Group were worth $1,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schechter Investment Advisors LLC increased its holdings in Rio Tinto Group by 10.9% in the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after purchasing an additional 858 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Rio Tinto Group in the fourth quarter valued at about $7,954,000. Sei Investments Co. increased its holdings in shares of Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares in the last quarter. Morgan Stanley increased its holdings in shares of Rio Tinto Group by 2.7% in the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after acquiring an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of Rio Tinto Group by 88.2% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after acquiring an additional 3,852 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE RIO traded up $0.39 during mid-day trading on Thursday, hitting $67.89. 507,001 shares of the stock traded hands, compared to its average volume of 2,942,726. 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 has a twelve month low of $58.27 and a twelve month high of $75.09. The firm has a 50 day simple moving average of $64.94 and a two-hundred day simple moving average of $67.42.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were issued a dividend of $2.58 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday. The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.