Teachers Retirement System of The State of Kentucky Acquires 21,190 Shares of Rio Tinto Group (NYSE:RIO)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,370 shares of the mining company's stock after acquiring an additional 21,190 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Rio Tinto Group worth $39,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIO. Sharpepoint LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth about $1,147,000. MML Investors Services LLC grew its stake in Rio Tinto Group by 3.2% during the fourth quarter. MML Investors Services LLC now owns 41,563 shares of the mining company's stock worth $2,444,000 after purchasing an additional 1,308 shares during the period. Capital Research Global Investors acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $1,969,000. Forum Financial Management LP lifted its stake in Rio Tinto Group by 93.8% in the fourth quarter. Forum Financial Management LP now owns 8,299 shares of the mining company's stock valued at $488,000 after buying an additional 4,017 shares during the period. Finally, Capital International Investors acquired a new position in Rio Tinto Group in the fourth quarter valued at approximately $1,380,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $73.00.

Rio Tinto Group Stock Up 1.0 %

Shares of NYSE RIO traded up $0.57 during trading on Wednesday, hitting $60.19. The stock had a trading volume of 3,824,897 shares, compared to its average volume of 2,863,684. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a fifty day moving average of $60.34 and a two-hundred day moving average of $61.69. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $74.24. The company has a market capitalization of $75.48 billion, a PE ratio of 9.33, a PEG 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. Shareholders of record on Friday, March 7th were given a dividend of $2.23 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 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.