Russell Investments Group Ltd. Grows Holdings in Rio Tinto Group (NYSE:RIO)

Russell Investments Group Ltd. increased its holdings in Rio Tinto Group (NYSE:RIO) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,202 shares of the mining company’s stock after acquiring an additional 2,200 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rio Tinto Group were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares in the last quarter. McIlrath & Eck LLC increased its position in Rio Tinto Group by 20.6% during the 3rd quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company’s stock valued at $98,000 after buying an additional 236 shares in the last quarter. Advisory Resource Group raised its stake in Rio Tinto Group by 11.1% during the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company’s stock valued at $1,197,000 after buying an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its holdings in Rio Tinto Group by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock worth $371,000 after acquiring an additional 529 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Rio Tinto Group by 1.8% in the third quarter. Sanctuary Advisors LLC now owns 28,506 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 516 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RIO. Jefferies Financial Group lowered their price target on 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. Barclays reiterated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 12th. Morgan Stanley cut Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 1.7 %

Shares of RIO stock opened at $58.15 on Friday. 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 $51.67 and a 12-month high of $74.24. The stock has a market capitalization of $72.91 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.42 and a beta of 0.66. The firm’s 50 day moving average is $60.62 and its 200 day moving average is $62.00.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were paid a $2.23 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is 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.