Rio Tinto Group (NYSE:RIO) Stock Holdings Lowered by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,782,871 shares of the mining company's stock after selling 2,592,910 shares during the quarter. Wellington Management Group LLP owned about 1.50% of Rio Tinto Group worth $1,104,621,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC boosted its position in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock valued at $98,340,000 after buying an additional 358,630 shares during the last quarter. Townsquare Capital LLC grew its stake in Rio Tinto Group by 13.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company's stock valued at $384,000 after purchasing an additional 637 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rio Tinto Group by 26.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company's stock valued at $77,000 after purchasing an additional 224 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $214,000. Finally, Hilltop Holdings Inc. raised its position in shares of Rio Tinto Group by 11.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company's stock valued at $295,000 after purchasing an additional 416 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

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Analyst Ratings Changes

RIO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group cut their price objective on 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $73.00.

Rio Tinto Group Stock Performance

RIO traded down $0.31 on Wednesday, hitting $59.92. 2,389,205 shares of the company's stock were exchanged, compared to its average volume of 2,836,712. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $62.04 and a two-hundred day moving average of $62.91. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The firm has a market cap of $75.14 billion, a PE ratio of 9.29, a P/E/G ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business 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. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group's dividend payout ratio 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.