Rio Tinto Group (NYSE:RIO) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC reduced its stake in Rio Tinto Group (NYSE:RIO) by 52.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,055 shares of the mining company’s stock after selling 6,602 shares during the period. Cravens & Co Advisors LLC’s holdings in Rio Tinto Group were worth $356,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its position in Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after acquiring an additional 160 shares in the last quarter. Nemes Rush Group LLC increased its stake in Rio Tinto Group by 10.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after purchasing an additional 169 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 worth $29,000 after acquiring an additional 195 shares during the period. Cohen Investment Advisors LLC increased its position in Rio Tinto Group by 3.8% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after buying an additional 198 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its position in Rio Tinto Group by 2.0% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after purchasing an additional 200 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

RIO opened at $57.16 on Wednesday. The stock has a fifty day moving average price of $60.80 and a 200 day moving average price of $62.12. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66.

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 paid a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RIO. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.