Net Worth Advisory Group Cuts Stock Holdings in Rio Tinto Group (NYSE:RIO)

Net Worth Advisory Group trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,233 shares of the mining company’s stock after selling 1,296 shares during the period. Net Worth Advisory Group’s holdings in Rio Tinto Group were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $50,000. FSC Wealth Advisors LLC increased its holdings in shares of Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after purchasing an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $59,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.14 on Tuesday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a fifty day moving average of $61.19 and a 200 day moving average of $62.89. The firm has a market cap of $77.86 billion, a PE ratio of 9.63, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on RIO. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group cut 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 report on Monday, January 6th. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Company 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.