Bfsg LLC Sells 222 Shares of Rio Tinto Group (NYSE:RIO)

Bfsg LLC cut its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,998 shares of the mining company’s stock after selling 222 shares during the period. Bfsg LLC’s holdings in Rio Tinto Group were worth $1,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RIO. Dana Investment Advisors Inc. increased its position in shares of Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after purchasing an additional 150 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Rio Tinto Group by 1.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock worth $616,000 after buying an additional 172 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Rio Tinto Group by 2.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock worth $473,000 after buying an additional 172 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its stake in Rio Tinto Group by 0.3% in the fourth quarter. Uncommon Cents Investing LLC now owns 56,090 shares of the mining company’s stock worth $4,176,000 after buying an additional 175 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Stock Performance

Shares of RIO stock traded up $1.50 during trading hours on Wednesday, reaching $68.14. 3,130,711 shares of the company traded hands, compared to its average volume of 2,979,788. The firm has a 50-day moving average price of $64.86 and a 200 day moving average price of $67.21. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group 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.