Global Retirement Partners LLC Sells 578 Shares of Rio Tinto Group (NYSE:RIO)

Global Retirement Partners LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,792 shares of the mining company’s stock after selling 578 shares during the quarter. Global Retirement Partners LLC’s holdings in Rio Tinto Group were worth $164,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RIO. Palliser Capital UK Ltd grew its holdings in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its stake in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the last quarter. FMR LLC boosted its stake in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of Rio Tinto Group in the 4th quarter valued at about $20,026,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RIO shares. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $61.56 on Thursday. The company has a market capitalization of $77.14 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 0.42 and a beta of 0.65. The firm’s 50 day simple moving average is $60.69 and its 200 day simple moving average is $62.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given 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 dividend payout ratio (DPR) is currently 69.15%.

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.