Baird Financial Group Inc. Decreases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Baird Financial Group Inc. decreased its position in Rio Tinto Group (NYSE:RIOGet Rating) by 52.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,001 shares of the mining company’s stock after selling 19,975 shares during the quarter. Baird Financial Group Inc.’s holdings in Rio Tinto Group were worth $1,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vigilant Capital Management LLC boosted its stake in shares of Rio Tinto Group by 308.2% during the 4th quarter. Vigilant Capital Management LLC now owns 400 shares of the mining company’s stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. Key Financial Inc bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $28,000. Pacifica Partners Inc. bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $31,000. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $40,000. Finally, Reilly Financial Advisors LLC boosted its stake in shares of Rio Tinto Group by 33.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 800 shares of the mining company’s stock valued at $54,000 after purchasing an additional 200 shares in the last quarter. 10.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RIO opened at $65.81 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average price is $75.19 and its 200-day moving average price is $71.48. Rio Tinto Group has a 52-week low of $59.58 and a 52-week high of $91.09.

The business also recently disclosed a None dividend, which was paid on Thursday, April 21st. Stockholders of record on Friday, March 11th were issued a dividend of $4.785 per share. This represents a dividend yield of 10.2%. This is a boost from Rio Tinto Group’s previous None dividend of $1.10. The ex-dividend date was Thursday, March 10th.

Several research firms recently commented on RIO. UBS Group raised shares of Rio Tinto Group from a “sell” rating to a “neutral” rating in a research note on Friday, March 25th. Royal Bank of Canada boosted their price objective on shares of Rio Tinto Group from GBX 5,300 ($65.34) to GBX 5,600 ($69.04) in a research note on Tuesday, April 19th. The Goldman Sachs Group raised shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research note on Monday, April 11th. Barclays lowered shares of Rio Tinto Group from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, April 26th. Finally, HSBC began coverage on shares of Rio Tinto Group in a research note on Friday, March 18th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Hold” and a consensus target price of $2,531.49.

Rio Tinto Group Profile (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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