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

McIlrath & Eck LLC decreased its position in Rio Tinto Group (NYSE:RIO) by 19.4% in the 4th quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after buying an additional 6,748,799 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth about $42,346,000. Van ECK Associates Corp raised its stake in Rio Tinto Group by 191.3% during the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after buying an additional 470,073 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Rio Tinto Group by 160.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock worth $37,020,000 after acquiring an additional 358,121 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised 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 acquiring an additional 242,313 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.8 %

Shares of RIO stock traded up $0.56 during trading hours on Thursday, reaching $68.06. The stock had a trading volume of 587,357 shares, compared to its average volume of 2,943,979. The firm has a 50-day simple moving average of $64.94 and a 200-day simple moving average of $67.42. Rio Tinto Group has a twelve month low of $58.27 and a twelve 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 company also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a $2.58 dividend. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Analysts Set New Price Targets

RIO has been the subject of a number of research reports. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.