Rio Tinto Group (NYSE:RIO) Shares Sold by Grove Bank & Trust

Grove Bank & Trust reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,080 shares of the mining company’s stock after selling 405 shares during the period. Grove Bank & Trust’s holdings in Rio Tinto Group were worth $80,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RIO. Bank of New York Mellon Corp increased its stake in Rio Tinto Group by 23.9% during the 1st quarter. Bank of New York Mellon Corp now owns 61,529 shares of the mining company’s stock worth $4,947,000 after buying an additional 11,879 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Rio Tinto Group by 33.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock valued at $527,000 after purchasing an additional 1,654 shares during the last quarter. BlackRock Inc. increased its position in shares of Rio Tinto Group by 19.4% in the 1st quarter. BlackRock Inc. now owns 1,539,846 shares of the mining company’s stock valued at $123,803,000 after purchasing an additional 250,480 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Rio Tinto Group in the 1st quarter valued at approximately $499,000. Finally, Cetera Investment Advisers increased its position in shares of Rio Tinto Group by 141.7% in the 1st quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock valued at $1,083,000 after purchasing an additional 7,894 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

RIO stock opened at $66.78 on Tuesday. The firm has a 50 day moving average of $65.01 and a 200-day moving average of $67.01. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be given a dividend of $2.58 per share. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus target price 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.