WealthTrust Axiom LLC Trims Stock Position in Rio Tinto Group (NYSE:RIO)

WealthTrust Axiom LLC cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,186 shares of the mining company’s stock after selling 477 shares during the quarter. WealthTrust Axiom LLC’s holdings in Rio Tinto Group were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after purchasing an additional 6,748,799 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth about $42,346,000. Van ECK Associates Corp raised its holdings in shares of Rio Tinto Group by 191.3% in the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after purchasing an additional 470,073 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of Rio Tinto Group by 160.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock worth $37,020,000 after purchasing an additional 358,121 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Rio Tinto Group by 33.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock worth $61,437,000 after purchasing an additional 242,313 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.5 %

NYSE RIO traded down $1.05 during mid-day trading on Tuesday, reaching $67.96. 2,287,284 shares of the company’s stock traded hands, compared to its average volume of 2,968,030. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The company has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $67.38. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a market cap of $85.12 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 3.12 and a beta of 0.70.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a dividend of $2.58 per share. This represents a yield of 6.6%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is 72.23%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RIO shares. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

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.