Cravens & Co Advisors LLC Trims Stake in Rio Tinto Group (NYSE:RIO)

Cravens & Co Advisors LLC lessened its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 52.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,055 shares of the mining company's stock after selling 6,602 shares during the quarter. Cravens & Co Advisors LLC's holdings in Rio Tinto Group were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIO. XTX Topco Ltd purchased a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $1,241,000. Rossby Financial LCC purchased a new position in Rio Tinto Group in the fourth quarter worth approximately $360,000. Jeppson Wealth Management LLC raised its position in Rio Tinto Group by 47.5% in the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock valued at $1,182,000 after purchasing an additional 6,473 shares during the period. Barclays PLC lifted its stake in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock valued at $23,888,000 after purchasing an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $810,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Down 0.1 %

NYSE RIO traded down $0.04 during trading on Monday, reaching $58.13. 814,984 shares of the company's stock were exchanged, compared to its average volume of 2,860,513. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The stock has a market cap of $72.89 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. 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 company has a 50 day moving average price of $60.55 and a two-hundred day moving average price of $61.79.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were issued a dividend of $2.23 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio (DPR) is presently 69.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Sunday. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Jefferies Financial Group cut 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 note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $73.00.

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.