Tower Research Capital LLC TRC Has $3.47 Million Position in Rio Tinto Group (NYSE:RIO)

Tower Research Capital LLC TRC raised its position in Rio Tinto Group (NYSE:RIO - Free Report) by 3,363.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,945 shares of the mining company's stock after acquiring an additional 57,243 shares during the period. Tower Research Capital LLC TRC's holdings in Rio Tinto Group were worth $3,467,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RIO. Rakuten Securities Inc. raised its position in Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after purchasing an additional 195 shares during the period. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at $50,000. Institutional investors own 19.33% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on RIO shares. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Jefferies Financial Group reduced their price target 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. 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, JPMorgan Chase & Co. began coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded down $1.11 during midday trading on Friday, reaching $60.58. The company had a trading volume of 2,694,997 shares, compared to its average volume of 2,865,444. 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 stock has a fifty day simple moving average of $60.31 and a 200 day simple moving average of $61.63. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a market capitalization of $75.97 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

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