Grantham Mayo Van Otterloo & Co. LLC Sells 16,490 Shares of Rio Tinto Group (NYSE:RIO)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,464 shares of the mining company's stock after selling 16,490 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in Rio Tinto Group were worth $22,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares during the last quarter. Mechanics Financial Corp bought a new position in Rio Tinto Group during the 4th quarter valued at $29,000. Golden State Wealth Management LLC purchased a new position in Rio Tinto Group during the 4th quarter worth $47,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter worth $50,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several analyst reports. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO traded up $2.12 on Friday, hitting $56.99. 1,966,654 shares of the stock traded hands, compared to its average volume of 2,876,071. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The business's fifty day moving average is $61.08 and its two-hundred day moving average is $62.39. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $74.24. The firm has a market capitalization of $71.46 billion, a price-to-earnings ratio of 8.82, 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. Stockholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio is presently 69.15%.

About Rio Tinto Group

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.