Blair William & Co. IL boosted its position in Rio Tinto Group (NYSE:RIO - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,493 shares of the mining company's stock after buying an additional 5,182 shares during the quarter. Blair William & Co. IL's holdings in Rio Tinto Group were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 worth $29,000 after buying an additional 195 shares during the last quarter. Rakuten Securities Inc. raised its stake in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after purchasing an additional 211 shares during the period. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group in the 4th quarter worth $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $50,000. Finally, FSC Wealth Advisors LLC grew its position in Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock worth $59,000 after acquiring an additional 600 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.
Rio Tinto Group Stock Performance
Shares of Rio Tinto Group stock traded down $3.78 during midday trading on Friday, hitting $54.66. The company had a trading volume of 8,784,422 shares, compared to its average volume of 2,855,147. The stock has a market cap of $68.54 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $53.98 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. The company has a fifty day simple moving average of $61.97 and a 200 day simple moving average of $62.87.
Rio Tinto Group Increases Dividend
The business also recently disclosed 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 of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group's payout ratio is 69.15%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RIO. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a 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 on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $73.00.
Check Out Our Latest Research Report on RIO
About Rio Tinto Group
(
Free Report)
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.
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