Schroder Investment Management Group Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Schroder Investment Management Group increased its holdings in Rio Tinto Group (NYSE:RIO) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,258 shares of the mining company’s stock after buying an additional 1,009 shares during the period. Schroder Investment Management Group’s holdings in Rio Tinto Group were worth $1,890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fisher Asset Management LLC raised its position in Rio Tinto Group by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock worth $1,035,319,000 after acquiring an additional 76,368 shares during the last quarter. Todd Asset Management LLC raised its position in shares of Rio Tinto Group by 1.0% during the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock worth $62,820,000 after purchasing an additional 10,062 shares during the last quarter. Palliser Capital UK Ltd lifted its stake in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares in the last quarter. Natixis Advisors LLC grew its holdings in Rio Tinto Group by 11.2% during the 4th quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company’s stock valued at $44,928,000 after buying an additional 77,130 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Rio Tinto Group during the fourth quarter worth $29,606,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $54.66 on Monday. The business’s fifty day moving average price is $61.82 and its 200 day moving average price is $62.81. Rio Tinto Group has a twelve month low of $53.96 and a twelve month high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $68.54 billion, a P/E ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The company 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 dividend of $2.23 per share. The ex-dividend date 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 payout ratio is presently 69.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RIO shares. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Buy” and an average target price of $73.00.

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.