Rio Tinto Group (NYSE:RIO) Position Cut by Trust Investment Advisors

Trust Investment Advisors lowered its position in Rio Tinto Group (NYSE:RIO) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,042 shares of the mining company’s stock after selling 195 shares during the quarter. Rio Tinto Group makes up approximately 2.1% of Trust Investment Advisors’ portfolio, making the stock its 5th biggest position. Trust Investment Advisors’ holdings in Rio Tinto Group were worth $2,758,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Schechter Investment Advisors LLC boosted its stake in Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after purchasing an additional 858 shares during the period. International Assets Investment Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth approximately $7,954,000. Sei Investments Co. grew its stake in shares of Rio Tinto Group by 18.3% in the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares during the last quarter. Morgan Stanley raised its stake in shares of Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in shares of Rio Tinto Group by 88.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.1 %

RIO traded down $0.10 during midday trading on Thursday, reaching $66.68. 3,234,654 shares of the company’s stock were exchanged, compared to its average volume of 2,966,926. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The business’s 50-day moving average price is $64.92 and its 200 day moving average price is $67.02.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be given a dividend of $2.58 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, March 7th.

Wall Street Analyst Weigh In

RIO has been the subject of several analyst reports. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.