Rio Tinto Group (NYSE:RIO) Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd reduced its position in Rio Tinto Group (NYSE:RIO - Free Report) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,416 shares of the mining company's stock after selling 60,478 shares during the period. Rio Tinto Group makes up approximately 3.0% of Catalyst Funds Management Pty Ltd's holdings, making the stock its 3rd largest holding. Catalyst Funds Management Pty Ltd's holdings in Rio Tinto Group were worth $12,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Rio Tinto Group by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company's stock valued at $477,000 after purchasing an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Rio Tinto Group by 63.9% during the 4th 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. Cohen Investment Advisors LLC raised its holdings in shares of Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company's stock valued at $315,000 after buying an additional 198 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company's stock valued at $599,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Rio Tinto Group by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company's stock valued at $109,000 after buying an additional 203 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Rio Tinto Group Stock Down 0.4 %

RIO stock traded down $0.27 during midday trading on Wednesday, hitting $63.88. 1,669,162 shares of the company's stock were exchanged, compared to its average volume of 2,751,628. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm has a 50 day moving average price of $61.65 and a 200-day moving average price of $62.85. The stock has a market capitalization of $80.04 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given 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 dividend 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.