MQS Management LLC Buys New Shares in Rio Tinto Group (NYSE:RIO)

MQS Management LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,348 shares of the mining company's stock, valued at approximately $256,000. Rio Tinto Group makes up about 7.3% of MQS Management LLC's investment portfolio, making the stock its 2nd biggest position.

Several other institutional investors have also modified their holdings of RIO. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 worth $29,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group in the fourth quarter worth approximately $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the fourth quarter worth approximately $50,000. FSC Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock valued at $59,000 after acquiring an additional 600 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

RIO stock traded up $0.41 during mid-day trading on Thursday, reaching $61.19. 2,585,603 shares of the stock traded hands, compared to its average volume of 3,280,384. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The business has a 50-day moving average of $61.29 and a two-hundred day moving average of $62.87. The firm has a market capitalization of $76.67 billion, a PE ratio of 9.49, a P/E/G ratio of 0.42 and a beta of 0.60.

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Rio Tinto Group Increases Dividend

The company also recently declared 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%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group's dividend payout ratio is 69.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RIO shares. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report 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.com, the company presently 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.