Savant Capital LLC Has $220,000 Holdings in Rio Tinto Group (NYSE:RIO)

Savant Capital LLC decreased its holdings in Rio Tinto Group (NYSE:RIO) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,956 shares of the mining company’s stock after selling 252 shares during the period. Savant Capital LLC’s holdings in Rio Tinto Group were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RIO. Schechter Investment Advisors LLC raised its stake in shares of Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at approximately $7,954,000. Sei Investments Co. grew its position in Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares in the last quarter. Morgan Stanley increased its stake in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after purchasing an additional 3,852 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Up 0.3 %

Shares of NYSE:RIO opened at $70.02 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average is $65.26 and its 200-day moving average is $67.64. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on RIO. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.00.

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.