First Trust Direct Indexing L.P. Trims Stock Position in Rio Tinto Group (NYSE:RIO)

First Trust Direct Indexing L.P. decreased its holdings in Rio Tinto Group (NYSE:RIO) by 18.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,141 shares of the mining company’s stock after selling 4,159 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Rio Tinto Group were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Rio Tinto Group in the 4th quarter worth $7,954,000. Sei Investments Co. raised its holdings in Rio Tinto Group by 18.3% during the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after acquiring an additional 111,623 shares during the period. Morgan Stanley increased its holdings in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after acquiring an additional 118,706 shares during the last quarter. 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 purchasing an additional 3,852 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $4,319,000. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the subject of several recent research reports. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of RIO opened at $67.90 on Friday. 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 stock has a fifty day simple moving average of $68.78 and a two-hundred day simple moving average of $68.02. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

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.