Mariner LLC Buys 5,439 Shares of Rio Tinto Group (NYSE:RIO)

Mariner LLC raised its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,708 shares of the mining company's stock after purchasing an additional 5,439 shares during the period. Mariner LLC's holdings in Rio Tinto Group were worth $6,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. increased its position in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after buying an additional 211 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after acquiring an additional 195 shares during the period. Mechanics Financial Corp bought a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Up 2.5 %

Shares of RIO traded up $1.53 on Thursday, hitting $61.73. 3,655,096 shares of the stock traded hands, compared to its average volume of 2,868,261. The company has a market capitalization of $77.41 billion, a PE ratio of 9.57, a P/E/G ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24. 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 business has a 50 day simple moving average of $60.34 and a 200 day simple moving average of $61.69.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were paid a $2.23 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's payout ratio is currently 69.15%.

Analyst Ratings Changes

RIO has been the subject of a number of research reports. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Sunday. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. 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 report on Monday, January 6th. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Finally, DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Rio Tinto Group has an average rating of "Buy" and an average target price of $73.00.

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.