2 weeks Ago By ABMN Staff
Russell Investments Group Ltd. raised its stake in shares of Rio Tinto Group ( NYSE:RIO – Free Report ) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC).
The fund owned 45,202 shares of the mining company’s stock after purchasing an additional 2,200 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rio Tinto Group were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Ovata Capital Management Ltd boosted its position in Rio Tinto Group by 7.7% during the fourth quarter.
Ovata Capital Management Ltd now owns 110,021 shares of the mining company’s stock valued at $6,495,000 after buying an additional 7,900 shares during the period. Integrated Quantitative Investments LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at about $371,000. Pitcairn Co.
grew its position in Rio Tinto Group by 2.0% during the 4th quarter. Pitcairn Co.
now owns 19,992 shares of the mining company’s stock worth $1,176,000 after acquiring an additional 400 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Rio Tinto Group in the 4th quarter worth approximately $6,880,000. Finally, Allen Wealth Management LLC increased its stake in Rio Tinto Group by 5.
4% in the 4th quarter. Allen Wealth Management LLC now owns 25,431 shares of the mining company’s stock worth $1,496,000 after purchasing an additional 1,303 shares during the period. 19.
33% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In Several research analysts have recently issued reports on the stock. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday.
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.
DZ Bank raised shares of 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 target price on Rio Tinto Group from $83.00 to $73.
00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 12th.
Four investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.
00. Rio Tinto Group Price Performance Shares of NYSE RIO opened at $58.15 on Friday.
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 has a 1 year low of $51.67 and a 1 year high of $74.
24. The company’s 50-day moving average is $60.62 and its 200 day moving average is $62.
00. The stock has a market capitalization of $72.91 billion, a P/E ratio of 9.
02, a P/E/G 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 issued a dividend of $2.23 per share.
This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Friday, March 7th.
This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio is 69.15%.
Rio Tinto Group Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group ( NYSE:RIO – Free Report ).
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