Charles Schwab Investment Management Inc. Buys 18,179 Shares of Rio Tinto Group (NYSE:RIO)

Charles Schwab Investment Management Inc. raised its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,888 shares of the mining company's stock after purchasing an additional 18,179 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Rio Tinto Group were worth $4,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Palliser Capital UK Ltd raised its position in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. SPX Gestao de Recursos Ltda raised its position in shares of Rio Tinto Group by 1,773.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock worth $30,384,000 after acquiring an additional 404,131 shares during the last quarter. FMR LLC lifted its position in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock worth $98,340,000 after purchasing an additional 358,630 shares during the period. ABC Arbitrage SA acquired a new position in Rio Tinto Group in the fourth quarter valued at $20,026,000. Finally, Barclays PLC grew its holdings in Rio Tinto Group by 225.6% during the 3rd 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 period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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Rio Tinto Group Trading Down 2.2 %

Shares of RIO stock traded down $1.35 during trading hours on Friday, reaching $60.99. The company's stock had a trading volume of 4,251,667 shares, compared to its average volume of 2,832,339. The stock has a market capitalization of $76.48 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.42 and a beta of 0.60. The firm's fifty day simple moving average is $62.11 and its 200 day simple moving average is $62.92. Rio Tinto Group has a one year low of $57.85 and a one year 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.

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 paid a $2.23 dividend. This represents a yield of 7%. 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. Rio Tinto Group's dividend payout ratio is presently 69.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday. StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Jefferies Financial Group decreased their price target 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. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $73.00.

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.