Nikko Asset Management Americas Inc. Sells 7,933 Shares of Rio Tinto Group (NYSE:RIO)

Nikko Asset Management Americas Inc. decreased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,581 shares of the mining company's stock after selling 7,933 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Rio Tinto Group were worth $3,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. boosted its holdings in Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after acquiring an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group in the 4th quarter worth $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at $50,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Rio Tinto Group during the 4th quarter valued at $59,000. Institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in 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. 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. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday. They issued an "overweight" rating on the stock. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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Rio Tinto Group Stock Down 1.4 %

RIO stock traded down $0.91 during trading on Friday, reaching $62.02. The stock had a trading volume of 3,703,863 shares, compared to its average volume of 3,240,654. 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 company 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 one year low of $57.85 and a one year high of $74.24. The company's 50 day moving average is $61.84 and its two-hundred day moving average is $62.85.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change 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 currently 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.