Rio Tinto Group (NYSE:RIO) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,863,494 shares of the mining company's stock after selling 1,526,147 shares during the quarter. Franklin Resources Inc. owned about 0.39% of Rio Tinto Group worth $362,136,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Schechter Investment Advisors LLC lifted its stake in Rio Tinto Group by 10.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company's stock worth $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $7,954,000. Sei Investments Co. raised its position in shares of Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company's stock valued at $45,926,000 after buying an additional 111,623 shares in the last quarter. Morgan Stanley raised its position in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company's stock valued at $284,111,000 after buying an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company's stock valued at $612,000 after buying an additional 3,852 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Up 0.2 %

Rio Tinto Group stock traded up $0.12 during midday trading on Tuesday, reaching $73.51. The stock had a trading volume of 4,017,625 shares, compared to its average volume of 2,935,657. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a fifty day moving average of $66.50 and a 200 day moving average of $68.10.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a $2.58 dividend. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date of this dividend was Thursday, March 7th.

Wall Street Analysts Forecast Growth

RIO has been the topic of several recent research reports. Liberum Capital restated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Citigroup cut shares of Rio Tinto Group from a "buy" rating to a "neutral" rating in a research report on Monday. Finally, StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

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.