Whittier Trust Co. Increases Holdings in Rio Tinto Group (NYSE:RIO)

Whittier Trust Co. increased its position in Rio Tinto Group (NYSE:RIO - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,523 shares of the mining company's stock after acquiring an additional 7,392 shares during the period. Whittier Trust Co.'s holdings in Rio Tinto Group were worth $1,560,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RIO. Foresight Global Investors Inc. boosted its stake in shares of Rio Tinto Group by 97.8% in the 4th quarter. Foresight Global Investors Inc. now owns 31,645 shares of the mining company's stock worth $1,861,000 after buying an additional 15,650 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $382,000. Horizon Investments LLC lifted its stake in shares of Rio Tinto Group by 3.1% in the 4th quarter. Horizon Investments LLC now owns 9,903 shares of the mining company's stock worth $582,000 after purchasing an additional 295 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Rio Tinto Group by 2.0% in the 4th quarter. Advisors Asset Management Inc. now owns 80,911 shares of the mining company's stock worth $4,758,000 after purchasing an additional 1,578 shares during the period. Finally, Cadence Wealth Management LLC boosted its holdings in shares of Rio Tinto Group by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 12,201 shares of the mining company's stock worth $718,000 after buying an additional 481 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock traded up $0.69 during midday trading on Tuesday, reaching $62.86. 1,866,028 shares of the stock traded hands, compared to its average volume of 2,751,931. The stock has a market cap of $78.77 billion, a P/E ratio of 9.75, a PEG ratio of 0.42 and a beta of 0.60. The stock's fifty day moving average is $62.01 and its 200-day moving average is $62.92. 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 12 month low of $57.85 and a 12 month high of $74.24.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group Company 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.