Optimum Investment Advisors Sells 600 Shares of Rio Tinto Group (NYSE:RIO)

Optimum Investment Advisors lessened its holdings in Rio Tinto Group (NYSE:RIO) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,425 shares of the mining company’s stock after selling 600 shares during the quarter. Optimum Investment Advisors’ holdings in Rio Tinto Group were worth $143,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC boosted its position 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 valued at $477,000 after acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. Cohen Investment Advisors LLC boosted its position in shares of Rio Tinto Group by 3.8% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after acquiring an additional 198 shares during the period. Mount Yale Investment Advisors LLC lifted 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 worth $599,000 after purchasing an additional 200 shares during the period. Finally, GAMMA Investing LLC lifted 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 worth $109,000 after purchasing an additional 203 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 1.4 %

RIO stock opened at $62.02 on Friday. The stock has a market capitalization of $77.71 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm has a 50-day moving average price of $61.90 and a 200-day moving average price of $62.86.

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 issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is 69.15%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

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.