LPL Financial LLC Cuts Position in Rio Tinto Group (NYSE:RIO)

LPL Financial LLC decreased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,608 shares of the mining company's stock after selling 46,478 shares during the period. LPL Financial LLC's holdings in Rio Tinto Group were worth $18,914,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Fox Run Management L.L.C. boosted its position in Rio Tinto Group by 56.7% in the fourth quarter. Fox Run Management L.L.C. now owns 12,493 shares of the mining company's stock valued at $735,000 after buying an additional 4,518 shares in the last quarter. Sei Investments Co. grew its position in Rio Tinto Group by 1.2% during the 4th quarter. Sei Investments Co. now owns 389,344 shares of the mining company's stock worth $22,897,000 after acquiring an additional 4,656 shares during the last quarter. American Century Companies Inc. increased its holdings in Rio Tinto Group by 6.4% during the 4th quarter. American Century Companies Inc. now owns 269,070 shares of the mining company's stock valued at $15,824,000 after purchasing an additional 16,218 shares in the last quarter. Virtu Financial LLC acquired a new position in Rio Tinto Group in the fourth quarter worth $2,024,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Rio Tinto Group by 95.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 5,900 shares of the mining company's stock worth $347,000 after acquiring an additional 2,875 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research 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 note on Thursday, March 27th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $73.00.

Rio Tinto Group Trading Down 6.8 %

Shares of RIO stock traded down $3.95 on Friday, hitting $54.48. The company had a trading volume of 5,233,537 shares, compared to its average volume of 2,842,866. The firm has a market cap of $68.32 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.42 and a beta of 0.60. The stock's 50-day moving average is $61.97 and its two-hundred day moving average is $62.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a twelve month low of $53.98 and a twelve month high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's payout ratio is currently 69.15%.

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.