Rockefeller Capital Management L.P. Has $10.36 Million Position in Rio Tinto Group (NYSE:RIO)

Rockefeller Capital Management L.P. trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 12.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 176,139 shares of the mining company’s stock after selling 26,067 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rio Tinto Group were worth $10,361,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RIO. Barclays PLC lifted its stake in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the last quarter. McIlrath & Eck LLC boosted its stake in Rio Tinto Group by 20.6% in the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company’s stock valued at $98,000 after buying an additional 236 shares in the last quarter. Advisory Resource Group grew its position in Rio Tinto Group by 11.1% in the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of Rio Tinto Group by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock worth $371,000 after acquiring an additional 529 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Rio Tinto Group by 1.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,506 shares of the mining company’s stock valued at $2,029,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research reports. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 12th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group dropped 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, six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 0.2 %

RIO opened at $57.13 on Thursday. The stock has a market cap of $71.64 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The company has a fifty day moving average of $60.70 and a 200-day moving average of $62.09.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a dividend 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%.

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.