Rio Tinto Group (NYSE:RIO) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,561 shares of the mining company's stock after selling 17,062 shares during the period. Tidal Investments LLC's holdings in Rio Tinto Group were worth $6,208,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in shares of Rio Tinto Group by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock worth $1,035,319,000 after acquiring an additional 76,368 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Rio Tinto Group by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after acquiring an additional 70,131 shares in the last quarter. FMR LLC increased its position in shares of Rio Tinto Group by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock worth $101,253,000 after acquiring an additional 339,924 shares in the last quarter. Northern Trust Corp increased its position in shares of Rio Tinto Group by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock worth $94,275,000 after acquiring an additional 255,151 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Rio Tinto Group by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock worth $74,341,000 after acquiring an additional 1,263,203 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.45 during trading hours on Friday, reaching $61.57. The company's stock had a trading volume of 4,511,070 shares, compared to its average volume of 2,853,735. The stock has a market cap of $77.20 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The company's 50 day simple moving average is $59.64 and its 200 day simple moving average is $60.89. Rio Tinto Group has a one year low of $51.67 and a one year high of $72.08. 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 firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a dividend of $2.23 per share. This represents a dividend yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's payout ratio is 69.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.