Mesirow Financial Investment Management Inc. Sells 4,683 Shares of Rio Tinto Group (NYSE:RIO)

Mesirow Financial Investment Management Inc. trimmed its stake in Rio Tinto Group (NYSE:RIO) by 52.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,286 shares of the mining company’s stock after selling 4,683 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Rio Tinto Group were worth $252,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after acquiring an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in 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 grew its position in 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 grew its position in Rio Tinto Group by 2.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after acquiring an additional 200 shares during the period. Finally, GAMMA Investing LLC grew its position in Rio Tinto Group by 12.2% in the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after acquiring an additional 203 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.33 on Monday. The business’s 50-day simple moving average is $61.12 and its 200 day simple moving average is $62.89. The stock has a market cap of $78.10 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. 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 company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

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.