Rio Tinto Group (NYSE:RIO) Shares Sold by Savant Capital LLC

Savant Capital LLC trimmed its stake in Rio Tinto Group (NYSE:RIO) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,956 shares of the mining company’s stock after selling 252 shares during the period. Savant Capital LLC’s holdings in Rio Tinto Group were worth $220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. AdvisorNet Financial Inc increased its position in shares of Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. SouthState Corp acquired a new position in Rio Tinto Group during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its stake in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after buying an additional 156 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Rio Tinto Group during the fourth quarter worth approximately $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 0.3 %

Shares of Rio Tinto Group stock opened at $70.02 on Wednesday. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company’s 50-day simple moving average is $65.26 and its 200-day simple moving average is $67.64. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were given a dividend of $2.58 per share. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th. This represents a yield of 6.6%.

Analyst Upgrades and Downgrades

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