X Square Capital LLC Cuts Stock Holdings in Rio Tinto Group (NYSE:RIO)

X Square Capital LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 5.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,941 shares of the mining company’s stock after selling 427 shares during the period. X Square Capital LLC’s holdings in Rio Tinto Group were worth $467,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RIO. Norges Bank purchased a new stake in Rio Tinto Group during the fourth quarter worth approximately $432,000. Blair William & Co. IL boosted its position in shares of Rio Tinto Group by 42.1% in the fourth quarter. Blair William & Co. IL now owns 17,493 shares of the mining company’s stock worth $1,029,000 after buying an additional 5,182 shares during the period. AssuredPartners Investment Advisors LLC acquired a new position in Rio Tinto Group during the 4th quarter worth approximately $938,000. Anthracite Investment Company Inc. purchased a new position in Rio Tinto Group in the 4th quarter worth approximately $941,000. Finally, Core Wealth Partners LLC raised its stake in shares of Rio Tinto Group by 14.3% during the fourth quarter. Core Wealth Partners LLC now owns 8,000 shares of the mining company’s stock valued at $470,000 after purchasing an additional 1,000 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $62.37 on Friday. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The firm has a market cap of $78.21 billion, a P/E ratio of 9.67, a PEG ratio of 0.42 and a beta of 0.60. The stock has a fifty day moving average price of $62.11 and a two-hundred day moving average price of $62.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. 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 is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.