Schonfeld Strategic Advisors LLC Has $1.33 Million Position in Rio Tinto Group (NYSE:RIO)

Schonfeld Strategic Advisors LLC trimmed its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,628 shares of the mining company's stock after selling 9,273 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Rio Tinto Group were worth $1,331,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RIO. Paloma Partners Management Co bought a new stake in Rio Tinto Group in the fourth quarter worth about $40,032,000. Northern Trust Corp increased its stake in Rio Tinto Group by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock valued at $94,275,000 after buying an additional 255,151 shares during the period. Boothbay Fund Management LLC raised its stake in shares of Rio Tinto Group by 156.1% during the 4th quarter. Boothbay Fund Management LLC now owns 95,475 shares of the mining company's stock worth $5,615,000 after purchasing an additional 58,200 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Rio Tinto Group by 7.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,010 shares of the mining company's stock worth $295,000 after purchasing an additional 354 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of Rio Tinto Group by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock worth $170,000 after acquiring an additional 163 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded up $1.79 during midday trading on Monday, hitting $61.77. 1,016,526 shares of the company's stock were exchanged, compared to its average volume of 2,852,363. 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 $77.46 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The company's 50 day moving average price is $59.77 and its 200 day moving average price is $61.10. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company also recently disclosed 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 currently 69.15%.

Analysts Set New Price Targets

Several equities analysts recently commented on RIO shares. 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. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of "Moderate 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.