HighTower Advisors LLC Reduces Stock Holdings in Rio Tinto Group (NYSE:RIO)

HighTower Advisors LLC trimmed its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing.

Several other institutional investors also recently modified their holdings of RIO. Huntington National Bank increased its position 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 purchasing an additional 239 shares during the last quarter. Empowered Funds LLC increased its position in shares of Rio Tinto Group by 13.7% in the third quarter. Empowered Funds LLC now owns 3,567 shares of the mining company's stock worth $254,000 after purchasing an additional 431 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Rio Tinto Group by 11.1% in the third quarter. Thrivent Financial for Lutherans now owns 30,275 shares of the mining company's stock worth $2,155,000 after purchasing an additional 3,017 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Rio Tinto Group in the third quarter worth approximately $202,000. Finally, Northwest Bancshares Inc. bought a new position in shares of Rio Tinto Group in the third quarter worth approximately $1,440,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RIO. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday. They set an "overweight" rating on the stock. 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. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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Rio Tinto Group Trading Down 1.4 %

Shares of NYSE:RIO traded down $0.91 during trading on Friday, reaching $62.02. 3,703,855 shares of the company traded hands, compared to its average volume of 2,755,588. The firm has a market capitalization of $77.71 billion, a price-to-earnings ratio of 9.61, a P/E/G 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 current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business's fifty day moving average is $61.84 and its 200-day moving average is $62.85.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a $2.23 dividend. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) 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.