Lake Street Advisors Group LLC Sells 292 Shares of Rio Tinto Group (NYSE:RIO)

Lake Street Advisors Group LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,583 shares of the mining company’s stock after selling 292 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Rio Tinto Group were worth $270,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group during the 4th quarter valued at $47,000. HHM Wealth Advisors LLC bought a new stake in Rio Tinto Group during the 4th quarter valued at $50,000. Hara Capital LLC bought a new stake in Rio Tinto Group during the 3rd quarter valued at $53,000. Finally, Nisa Investment Advisors LLC increased its stake in Rio Tinto Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $60.51 on Friday. 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 company has a market capitalization of $75.82 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 0.42 and a beta of 0.65. The firm’s fifty day moving average price is $60.77 and its two-hundred day moving average price is $62.89. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. This is an increase 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 payout ratio is currently 69.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on RIO shares. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group decreased their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.00.

About Rio Tinto Group

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.