Summitry LLC Has $212,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Summitry LLC decreased its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,599 shares of the mining company’s stock after selling 299 shares during the quarter. Summitry LLC’s holdings in Rio Tinto Group were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Palliser Capital UK Ltd increased its holdings in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Rio Tinto Group during the 4th quarter worth about $29,606,000. SPX Gestao de Recursos Ltda raised its holdings in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the period. FMR LLC lifted its stake 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 purchasing an additional 358,630 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in Rio Tinto Group during the fourth quarter worth about $20,026,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several research analyst reports. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Trading Up 1.1 %

Shares of Rio Tinto Group stock opened at $62.86 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a 50-day moving average of $62.01 and a 200-day moving average of $62.92. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The stock has a market cap of $78.77 billion, a PE ratio of 9.75, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm 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 $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a yield of 7%. 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%.

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.