Rio Tinto Group (NYSE:RIO) Shares Sold by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC lowered its position in Rio Tinto Group (NYSE:RIO - Free Report) by 53.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,000 shares of the mining company's stock after selling 85,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in Rio Tinto Group were worth $4,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. West Family Investments Inc. grew its position in shares of Rio Tinto Group by 41.4% during the 4th quarter. West Family Investments Inc. now owns 6,505 shares of the mining company's stock worth $383,000 after buying an additional 1,906 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Rio Tinto Group in the fourth quarter worth about $554,000. Callan Family Office LLC bought a new position in Rio Tinto Group during the 4th quarter worth about $1,068,000. EagleClaw Capital Managment LLC increased its position in Rio Tinto Group by 3.8% during the 4th quarter. EagleClaw Capital Managment LLC now owns 53,855 shares of the mining company's stock valued at $3,167,000 after purchasing an additional 1,970 shares during the period. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Rio Tinto Group by 6.3% in the 4th quarter. Freestone Capital Holdings LLC now owns 6,581 shares of the mining company's stock valued at $387,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Down 0.6 %

Shares of NYSE RIO traded down $0.37 during trading hours on Tuesday, hitting $61.84. 3,639,321 shares of the stock were exchanged, compared to its average volume of 3,293,334. The company has a market cap of $77.48 billion, a PE ratio of 9.59, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12 month low of $57.85 and a 12 month 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 firm has a fifty day moving average price of $61.19 and a 200-day moving average price of $62.89.

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Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a dividend of $2.23 per share. 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. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio is presently 69.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RIO. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, StockNews.com downgraded 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, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of "Moderate 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.