Eagle Global Advisors LLC Trims Position in Rio Tinto Group (NYSE:RIO)

Eagle Global Advisors LLC lessened its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 52.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,620 shares of the mining company's stock after selling 31,193 shares during the period. Eagle Global Advisors LLC's holdings in Rio Tinto Group were worth $1,683,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its stake in shares of Rio Tinto Group by 11.8% in the 4th quarter. EP Wealth Advisors LLC now owns 7,427 shares of the mining company's stock worth $437,000 after purchasing an additional 786 shares in the last quarter. Crestline Management LP grew its stake in shares of Rio Tinto Group by 3,283.2% during the 4th quarter. Crestline Management LP now owns 306,116 shares of the mining company's stock valued at $18,003,000 after acquiring an additional 297,068 shares during the period. Bramshill Investments LLC raised its stake in Rio Tinto Group by 129.9% during the 4th quarter. Bramshill Investments LLC now owns 24,412 shares of the mining company's stock worth $1,436,000 after acquiring an additional 13,795 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth $243,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at $417,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Up 0.4 %

Shares of RIO opened at $60.04 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $59.85 and a 200 day moving average of $61.23. The company has a market cap of $75.28 billion, a PE ratio of 9.31, a P/E/G ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were issued a dividend of $2.23 per share. This represents a yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Friday, March 7th. Rio Tinto Group's dividend payout ratio is presently 69.15%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.