Jackson Hole Capital Partners LLC Buys Shares of 5,630 Rio Tinto Group (NYSE:RIO)

Jackson Hole Capital Partners LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,630 shares of the mining company's stock, valued at approximately $331,000.

A number of other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in Rio Tinto Group by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company's stock valued at $58,000 after acquiring an additional 270 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock valued at $303,000 after purchasing an additional 175 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Rio Tinto Group by 16.8% during the third quarter. Verdence Capital Advisors LLC now owns 37,984 shares of the mining company's stock worth $2,703,000 after purchasing an additional 5,469 shares during the period. Assetmark Inc. lifted its holdings in Rio Tinto Group by 2.3% during the 3rd quarter. Assetmark Inc. now owns 63,410 shares of the mining company's stock worth $4,513,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Rio Tinto Group by 53.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 89,466 shares of the mining company's stock worth $6,367,000 after purchasing an additional 31,290 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

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Rio Tinto Group Price Performance

Shares of NYSE:RIO traded up $0.41 during trading on Thursday, reaching $61.19. 2,585,611 shares of the company traded hands, compared to its average volume of 3,280,411. The firm has a market capitalization of $76.67 billion, a PE ratio of 9.49, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52 week low of $57.85 and a 52 week 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's 50 day moving average is $61.29 and its two-hundred day moving average is $62.87.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group dropped their price objective 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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.