Capital World Investors Sells 2,110,579 Shares of Rio Tinto Group (NYSE:RIO)

Capital World Investors decreased its position in Rio Tinto Group (NYSE:RIO - Free Report) by 42.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,833,044 shares of the mining company's stock after selling 2,110,579 shares during the quarter. Capital World Investors owned about 0.23% of Rio Tinto Group worth $166,611,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock valued at $23,888,000 after acquiring an additional 232,539 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Rio Tinto Group by 20.6% in the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company's stock valued at $98,000 after buying an additional 236 shares in the last quarter. Advisory Resource Group grew its position in Rio Tinto Group by 11.1% in the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company's stock valued at $1,197,000 after acquiring an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in Rio Tinto Group by 11.3% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company's stock worth $371,000 after acquiring an additional 529 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in Rio Tinto Group by 5.9% during the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company's stock worth $342,000 after purchasing an additional 266 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RIO shares. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Down 1.8 %

Rio Tinto Group stock traded down $1.11 during midday trading on Friday, hitting $60.58. 2,694,997 shares of the stock were exchanged, compared to its average volume of 2,865,048. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24. The business's 50-day moving average price is $60.24 and its 200-day moving average price is $61.59. 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 stock has a market capitalization of $75.97 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were given a dividend of $2.23 per share. This represents a dividend 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 (DPR) is presently 69.15%.

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.