Solstein Capital LLC Trims Holdings in Rio Tinto Group (NYSE:RIO)

Solstein Capital LLC reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 26.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,793 shares of the mining company’s stock after selling 1,337 shares during the period. Solstein Capital LLC’s holdings in Rio Tinto Group were worth $223,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Integrated Quantitative Investments LLC acquired a new position in Rio Tinto Group in the 4th quarter valued at about $371,000. Pitcairn Co. increased its holdings in shares of Rio Tinto Group by 2.0% in the fourth quarter. Pitcairn Co. now owns 19,992 shares of the mining company’s stock valued at $1,176,000 after purchasing an additional 400 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Rio Tinto Group during the fourth quarter worth approximately $6,880,000. Allen Wealth Management LLC lifted its holdings in shares of Rio Tinto Group by 5.4% during the fourth quarter. Allen Wealth Management LLC now owns 25,431 shares of the mining company’s stock worth $1,496,000 after purchasing an additional 1,303 shares during the period. Finally, World Investment Advisors grew its position in Rio Tinto Group by 55.1% in the 4th quarter. World Investment Advisors now owns 7,450 shares of the mining company’s stock valued at $438,000 after buying an additional 2,648 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 6.5 %

Shares of RIO stock opened at $54.66 on Friday. Rio Tinto Group has a fifty-two week low of $53.96 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 business has a fifty day simple moving average of $61.82 and a 200-day simple moving average of $62.82. The stock has a market cap of $68.54 billion, a P/E ratio of 8.47, a P/E/G ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a $2.23 dividend. 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 dividend payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RIO. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $73.00.

About Rio Tinto Group

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.