Commonwealth Equity Services LLC Trims Stock Holdings in Rio Tinto Group (NYSE:RIO)

Commonwealth Equity Services LLC trimmed its holdings in Rio Tinto Group (NYSE:RIO) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 193,950 shares of the mining company’s stock after selling 18,249 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rio Tinto Group were worth $11,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RIO. Fisher Asset Management LLC increased its holdings in Rio Tinto Group by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock worth $1,035,319,000 after purchasing an additional 76,368 shares during the period. FMR LLC raised its position in Rio Tinto Group by 35.1% during 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 in the last quarter. Todd Asset Management LLC raised its position in Rio Tinto Group by 1.0% during the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after purchasing an additional 10,062 shares in the last quarter. Palliser Capital UK Ltd raised its position in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Rio Tinto Group during the 4th quarter valued at $29,606,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 1.0 %

RIO opened at $64.12 on Wednesday. The firm has a market cap of $80.35 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a fifty day moving average price of $61.65 and a 200-day moving average price of $62.85.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid 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 is Friday, March 7th. Rio Tinto Group’s payout ratio is 69.15%.

Wall Street Analyst Weigh In

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

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.