Rio Tinto Group (NYSE:RIO) Shares Sold by Sandy Spring Bank

Sandy Spring Bank lowered its holdings in Rio Tinto Group (NYSE:RIO) by 4.5% during the fourth quarter, Holdings Channel reports. The fund owned 4,273 shares of the mining company’s stock after selling 200 shares during the quarter. Sandy Spring Bank’s holdings in Rio Tinto Group were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC increased its stake in shares of Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Rio Tinto Group by 63.9% during the fourth 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 period. Cohen Investment Advisors LLC grew its position in Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after buying an additional 198 shares during the period. Mount Yale Investment Advisors LLC grew its position in Rio Tinto Group by 2.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC grew its position in Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 1.4 %

Shares of NYSE RIO opened at $62.02 on Friday. The company’s 50-day simple moving average is $61.90 and its 200-day simple moving average is $62.85. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The firm has a market cap of $77.71 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. 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 business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a $2.23 dividend. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday. They set an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.