Rio Tinto Group (NYSE:RIO) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,838 shares of the mining company’s stock after selling 423 shares during the period. Concurrent Investment Advisors LLC’s holdings in Rio Tinto Group were worth $226,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Rio Tinto Group by 258.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 45,723 shares of the mining company’s stock valued at $3,254,000 after purchasing an additional 32,965 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at about $9,577,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Rio Tinto Group by 27.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 59,933 shares of the mining company’s stock valued at $4,265,000 after buying an additional 12,861 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of 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 buying an additional 270 shares during the period. Finally, Eagle Strategies LLC lifted its position in Rio Tinto Group by 3.4% during the 3rd quarter. Eagle Strategies LLC now owns 6,259 shares of the mining company’s stock worth $445,000 after acquiring an additional 205 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 1.0 %

NYSE:RIO opened at $62.09 on Wednesday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $77.80 billion, a PE ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.65. The business’s 50 day moving average is $60.65 and its two-hundred day moving average is $62.93.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s payout ratio is presently 54.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of 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. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.