Arrowstreet Capital Limited Partnership Raises Holdings in Rio Tinto Group (NYSE:RIO)

Arrowstreet Capital Limited Partnership increased its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 119.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,555 shares of the mining company's stock after acquiring an additional 136,396 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Rio Tinto Group were worth $14,735,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC lifted its position in Rio Tinto Group by 13.4% in the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company's stock valued at $384,000 after purchasing an additional 637 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rio Tinto Group by 26.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company's stock valued at $77,000 after buying an additional 224 shares during the last quarter. Hilltop Holdings Inc. boosted its position in Rio Tinto Group by 11.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company's stock valued at $295,000 after buying an additional 416 shares during the period. IHT Wealth Management LLC bought a new stake in Rio Tinto Group in the 3rd quarter worth $232,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Rio Tinto Group in the third quarter valued at about $2,256,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

NYSE RIO traded down $3.78 on Friday, hitting $54.66. 8,784,422 shares of the company traded hands, compared to its average volume of 2,850,956. The business's 50 day moving average price is $61.82 and its 200-day moving average price is $62.81. Rio Tinto Group has a 52-week low of $53.96 and a 52-week high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.42 and a beta of 0.66.

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Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

RIO has been the topic of several recent analyst reports. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Jefferies Financial Group cut their price objective on 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. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Three 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. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of "Buy" and a consensus target price 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.