Bfsg LLC Reduces Holdings in Rio Tinto Group (NYSE:RIO)

Bfsg LLC trimmed its holdings in Rio Tinto Group (NYSE:RIO) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,998 shares of the mining company’s stock after selling 222 shares during the quarter. Bfsg LLC’s holdings in Rio Tinto Group were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in RIO. Dana Investment Advisors Inc. grew its holdings in Rio Tinto Group by 0.5% in the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after buying an additional 150 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Rio Tinto Group by 1.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after acquiring an additional 172 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Rio Tinto Group by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock worth $473,000 after acquiring an additional 172 shares during the period. Finally, Uncommon Cents Investing LLC boosted its stake in Rio Tinto Group by 0.3% during the 4th quarter. Uncommon Cents Investing LLC now owns 56,090 shares of the mining company’s stock valued at $4,176,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 2.3 %

Rio Tinto Group stock traded up $1.50 during mid-day trading on Wednesday, reaching $68.14. The company’s stock had a trading volume of 3,130,711 shares, compared to its average volume of 2,979,788. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The business’s 50 day simple moving average is $64.86 and its 200 day simple moving average is $67.21. 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 firm also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were given a $2.58 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date was Thursday, March 7th.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.