Amundi cut its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,255 shares of the mining company's stock after selling 6,175 shares during the quarter. Amundi's holdings in Rio Tinto Group were worth $4,178,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in shares of Rio Tinto Group by 6.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 38,586 shares of the mining company's stock worth $2,746,000 after purchasing an additional 2,459 shares in the last quarter. Huntington National Bank grew its stake in shares of Rio Tinto Group by 11.3% in the third quarter. Huntington National Bank now owns 2,345 shares of the mining company's stock worth $167,000 after acquiring an additional 239 shares during the period. Empowered Funds LLC lifted its holdings in shares of Rio Tinto Group by 13.7% during the 3rd quarter. Empowered Funds LLC now owns 3,567 shares of the mining company's stock valued at $254,000 after buying an additional 431 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Rio Tinto Group by 11.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,275 shares of the mining company's stock valued at $2,155,000 after purchasing an additional 3,017 shares during the period. Finally, Baron Wealth Management LLC purchased a new stake in Rio Tinto Group during the third quarter valued at approximately $202,000. Institutional investors own 19.33% of the company's stock.
Rio Tinto Group Price Performance
Shares of RIO stock traded down $0.27 during trading hours on Wednesday, hitting $63.88. The stock had a trading volume of 1,511,698 shares, compared to its average volume of 3,241,448. The stock's 50-day moving average price is $61.65 and its two-hundred day moving average price is $62.85. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The stock has a market capitalization of $80.04 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.
Rio Tinto Group Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group's dividend payout ratio is 69.15%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday. They issued an "overweight" rating for the company. Finally, StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.
View Our Latest Analysis on RIO
Rio Tinto Group Company Profile
(
Free Report)
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.
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