HighTower Advisors LLC Sells 15,648 Shares of Rio Tinto Group (NYSE:RIO)

HighTower Advisors LLC lessened its stake in Rio Tinto Group (NYSE:RIO) by 10.3% in the fourth quarter, HoldingsChannel reports. The firm owned 136,430 shares of the mining company’s stock after selling 15,648 shares during the period. HighTower Advisors LLC’s holdings in Rio Tinto Group were worth $8,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RIO. Jeppson Wealth Management LLC grew its position in shares of Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after acquiring an additional 6,473 shares during the period. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the period. Northwest Bancshares Inc. bought a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $1,440,000. Barclays PLC grew its position in shares of Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the period. Finally, Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at $810,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 0.6 %

Shares of RIO stock opened at $63.44 on Tuesday. The stock has a market cap of $79.49 billion, a P/E ratio of 9.84, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $61.53 and its two-hundred day simple moving average is $62.84.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is presently 69.15%.

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.