Franklin Resources Inc. Raises Position in Rio Tinto Group (NYSE:RIO)

Franklin Resources Inc. increased its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,115,476 shares of the mining company's stock after buying an additional 70,131 shares during the period. Franklin Resources Inc. owned about 0.41% of Rio Tinto Group worth $300,841,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Rio Tinto Group by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company's stock valued at $477,000 after purchasing an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 valued at $29,000 after buying an additional 195 shares in the last quarter. Cohen Investment Advisors LLC raised its stake in Rio Tinto Group by 3.8% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company's stock valued at $315,000 after buying an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company's stock worth $599,000 after acquiring an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Rio Tinto Group by 12.2% in the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company's stock valued at $109,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report 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, March 27th. Jefferies Financial Group reduced 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 report on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $73.00.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded down $3.78 on Friday, reaching $54.66. The company's stock had a trading volume of 8,784,422 shares, compared to its average volume of 2,850,956. Rio Tinto Group has a 52-week low of $53.96 and a 52-week high of $74.24. 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. The stock's 50-day moving average is $61.82 and its two-hundred day moving average is $62.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group's dividend payout ratio is currently 69.15%.

About Rio Tinto Group

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.