Rockefeller Capital Management L.P. Sells 26,067 Shares of Rio Tinto Group (NYSE:RIO)

Rockefeller Capital Management L.P. lessened its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,139 shares of the mining company's stock after selling 26,067 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Rio Tinto Group were worth $10,361,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RIO. Rakuten Securities Inc. lifted its position in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 buying an additional 195 shares during the last quarter. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group during the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter worth $50,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of research reports. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, five have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded up $1.13 during midday trading on Tuesday, hitting $59.60. 2,345,235 shares of the company were exchanged, compared to its average volume of 2,858,480. The firm has a 50 day simple moving average of $60.40 and a 200-day simple moving average of $61.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market cap of $74.74 billion, a P/E ratio of 9.24, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were paid a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date was Friday, March 7th. This is an increase 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 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.