Callan Family Office LLC Purchases Shares of 18,166 Rio Tinto Group (NYSE:RIO)

Callan Family Office LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,166 shares of the mining company's stock, valued at approximately $1,068,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jeppson Wealth Management LLC lifted its stake in shares of Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock valued at $1,182,000 after buying an additional 6,473 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. Northwest Bancshares Inc. acquired a new stake in shares of Rio Tinto Group during the third quarter valued at about $1,440,000. Barclays PLC increased its position 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 worth $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at about $810,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RIO. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $73.00.

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Rio Tinto Group Price Performance

Shares of RIO stock traded down $1.02 during trading hours on Wednesday, hitting $60.83. The company had a trading volume of 3,118,133 shares, compared to its average volume of 3,285,193. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm's fifty day moving average is $61.25 and its 200 day moving average is $62.88. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. 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. Rio Tinto Group's payout ratio is currently 69.15%.

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.