Fox Run Management L.L.C. Purchases 4,518 Shares of Rio Tinto Group (NYSE:RIO)

Fox Run Management L.L.C. increased its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 56.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,493 shares of the mining company's stock after acquiring an additional 4,518 shares during the quarter. Fox Run Management L.L.C.'s holdings in Rio Tinto Group were worth $735,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of Rio Tinto Group by 13.7% during the 3rd quarter. Empowered Funds LLC now owns 3,567 shares of the mining company's stock valued at $254,000 after acquiring an additional 431 shares during the period. Thrivent Financial for Lutherans increased its holdings in Rio Tinto Group by 11.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,275 shares of the mining company's stock worth $2,155,000 after purchasing an additional 3,017 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Rio Tinto Group by 2.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 132,141 shares of the mining company's stock valued at $9,404,000 after buying an additional 3,524 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Rio Tinto Group by 11.1% during the third quarter. Eagle Asset Management Inc. now owns 9,040 shares of the mining company's stock valued at $643,000 after purchasing an additional 903 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Rio Tinto Group by 26.6% in the 3rd quarter. Cerity Partners LLC now owns 55,078 shares of the mining company's stock valued at $3,920,000 after buying an additional 11,558 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Jefferies Financial Group reduced their price objective on 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. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. 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 given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group has an average rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Price Performance

RIO stock traded up $0.69 during mid-day trading on Tuesday, reaching $62.86. 1,866,028 shares of the company traded hands, compared to its average volume of 2,755,899. The company has a fifty day moving average price of $61.96 and a 200-day moving average price of $62.90. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a market capitalization of $78.77 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.42 and a beta of 0.60. 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 company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is 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 dividend payout ratio is presently 69.15%.

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.