Todd Asset Management LLC Sells 16,532 Shares of Rio Tinto Group (NYSE:RIO)

Todd Asset Management LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 973,556 shares of the mining company’s stock after selling 16,532 shares during the period. Rio Tinto Group makes up 1.6% of Todd Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Todd Asset Management LLC’s holdings in Rio Tinto Group were worth $72,491,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Schechter Investment Advisors LLC lifted its holdings 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 buying an additional 858 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $7,954,000. Sei Investments Co. raised its stake in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares in the last quarter. Morgan Stanley lifted its position in Rio Tinto Group by 2.7% in the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after acquiring an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Rio Tinto Group by 88.2% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after acquiring an additional 3,852 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 1.0 %

RIO traded up $0.66 on Friday, hitting $68.94. 3,193,760 shares of the company traded hands, compared to its average volume of 3,270,538. The company has a 50 day moving average of $65.05 and a 200-day moving average of $67.46. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RIO. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating on the stock. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.