X Square Capital LLC Sells 427 Shares of Rio Tinto Group (NYSE:RIO)

X Square Capital LLC decreased its position in Rio Tinto Group (NYSE:RIO) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,941 shares of the mining company’s stock after selling 427 shares during the period. X Square Capital LLC’s holdings in Rio Tinto Group were worth $467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the 4th quarter worth about $50,000. Finally, FSC Wealth Advisors LLC lifted its holdings in Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after purchasing an additional 600 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.37 on Friday. The firm’s fifty day simple moving average is $62.11 and its 200-day simple moving average is $62.91. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two 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 stock has a market cap of $78.21 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on RIO shares. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Jefferies Financial Group reduced their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.