Cambridge Trust Co. Sells 174,725 Shares of Rio Tinto Group (NYSE:RIO)

Cambridge Trust Co. lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 62.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,838 shares of the mining company’s stock after selling 174,725 shares during the quarter. Cambridge Trust Co.’s holdings in Rio Tinto Group were worth $7,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $27,000. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares during the period. First Manhattan Co. increased its stake in shares of Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after buying an additional 361 shares during the period. Finally, SouthState Corp acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $32,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.6 %

Shares of Rio Tinto Group stock traded down $0.43 during trading on Thursday, reaching $66.35. 2,442,375 shares of the company were exchanged, compared to its average volume of 2,955,258. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $64.92 and a 200-day moving average price of $67.02.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be paid a $2.58 dividend. This represents a yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th.

Wall Street Analyst Weigh In

RIO has been the subject of several research reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.