Sigma Planning Corp Sells 3,636 Shares of Rio Tinto Group (NYSE:RIO)

Sigma Planning Corp cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 56.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,752 shares of the mining company’s stock after selling 3,636 shares during the period. Sigma Planning Corp’s holdings in Rio Tinto Group were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. boosted its position in 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. Pinnacle Wealth Planning Services Inc. grew its position in Rio Tinto Group by 1.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after purchasing an additional 172 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Rio Tinto Group by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after purchasing an additional 172 shares during the last quarter. Uncommon Cents Investing LLC lifted its holdings in shares of Rio Tinto Group by 0.3% during the fourth quarter. Uncommon Cents Investing LLC now owns 56,090 shares of the mining company’s stock valued at $4,176,000 after purchasing an additional 175 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Rio Tinto Group by 4.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,464 shares of the mining company’s stock valued at $284,000 after buying an additional 187 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $69.02 on Tuesday. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The firm’s 50 day moving average price is $64.86 and its 200-day moving average price is $67.38. 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 declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%.

Wall Street Analyst Weigh In

RIO has been the topic of several analyst reports. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Two equities research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

About Rio Tinto Group

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.