HighTower Advisors LLC Sells 15,648 Shares of Rio Tinto Group (NYSE:RIO)

HighTower Advisors LLC reduced its stake in Rio Tinto Group (NYSE:RIO) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,430 shares of the mining company’s stock after selling 15,648 shares during the period. HighTower Advisors LLC’s holdings in Rio Tinto Group were worth $8,023,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Rio Tinto Group by 63.9% during the fourth 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 bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $50,000. Newbridge Financial Services Group Inc. bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $59,000. Finally, FSC Wealth Advisors LLC increased its stake in shares of Rio Tinto Group by 150.0% during the fourth 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. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $63.44 on Tuesday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The firm has a market cap of $79.49 billion, a P/E ratio of 9.84, a PEG ratio of 0.42 and a beta of 0.60. The company has a 50 day moving average of $61.53 and a 200 day moving average of $62.84. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RIO. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group decreased their price objective 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 investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group 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.