Rio Tinto Group (NYSE:RIO) Shares Sold by McIlrath & Eck LLC

McIlrath & Eck LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 19.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 886 shares of the mining company’s stock after selling 213 shares during the period. McIlrath & Eck LLC’s holdings in Rio Tinto Group were worth $66,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RIO. Wellington Management Group LLP raised its position in shares of Rio Tinto Group by 41.0% in the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the period. Morgan Stanley grew its holdings in Rio Tinto Group by 2.7% in the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares during the period. Acadian Asset Management LLC increased its position in shares of Rio Tinto Group by 5.9% in the third quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock valued at $184,721,000 after buying an additional 161,532 shares in the last quarter. Northern Trust Corp raised its stake in shares of Rio Tinto Group by 0.9% during the 3rd quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock worth $120,485,000 after buying an additional 17,401 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Rio Tinto Group by 33.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock valued at $61,437,000 after buying an additional 242,313 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded up $0.56 during midday trading on Thursday, hitting $68.06. The company had a trading volume of 587,357 shares, compared to its average volume of 2,943,979. The business’s 50-day simple moving average is $64.94 and its 200-day simple moving average is $67.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on RIO. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company 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.