Rio Tinto Group (NYSE:RIO) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,027 shares of the mining company’s stock after selling 3,412 shares during the quarter. Wright Investors Service Inc.’s holdings in Rio Tinto Group were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Schechter Investment Advisors LLC lifted its position in Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after acquiring an additional 858 shares during the period. International Assets Investment Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth approximately $7,954,000. Sei Investments Co. lifted its position in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares during the period. Morgan Stanley lifted its position in Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after acquiring an additional 118,706 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its position in Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after acquiring an additional 3,852 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RIO shares. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Price Performance

NYSE RIO traded up $0.31 during mid-day trading on Thursday, hitting $67.09. The stock had a trading volume of 1,536,412 shares, compared to its average volume of 2,942,196. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a 50 day simple moving average of $64.92 and a 200 day simple moving average of $67.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid a $2.58 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date is Thursday, March 7th.

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.