Cullen Capital Management LLC trimmed its position in Rio Tinto Group (NYSE:RIO - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,278 shares of the mining company's stock after selling 55,065 shares during the period. Cullen Capital Management LLC owned about 0.07% of Rio Tinto Group worth $49,476,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares during the period. Rakuten Securities Inc. boosted its stake in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after buying an additional 211 shares during the last quarter. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group during the 4th quarter valued at about $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter worth about $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter worth approximately $50,000. 19.33% of the stock is owned by institutional investors and hedge funds.
Rio Tinto Group Stock Down 2.2 %
Shares of RIO stock traded down $1.21 during mid-day trading on Thursday, reaching $54.40. 2,524,595 shares of the company were exchanged, compared to its average volume of 2,872,984. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The business's 50 day simple moving average is $61.18 and its 200 day simple moving average is $62.48. The company has a market capitalization of $68.22 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24.
Rio Tinto Group Increases Dividend
The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio is 69.15%.
Analyst Ratings Changes
A number of research firms have recently commented on RIO. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Morgan Stanley cut Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating, four have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $73.00.
Check Out Our Latest Report on RIO
About Rio Tinto Group
(
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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