Charles Schwab Investment Management Inc. Buys 18,179 Shares of Rio Tinto Group (NYSE:RIO)

Charles Schwab Investment Management Inc. raised its position in shares of Rio Tinto Group (NYSE:RIO) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,888 shares of the mining company’s stock after purchasing an additional 18,179 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rio Tinto Group were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at about $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the fourth quarter valued at approximately $50,000. FSC Wealth Advisors LLC grew its stake in Rio Tinto Group by 150.0% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after acquiring an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Rio Tinto Group during the 4th quarter worth approximately $59,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group lowered 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. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $62.86 on Wednesday. The firm has a market capitalization of $78.77 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 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. The business’s 50-day moving average price is $62.01 and its 200-day moving average price is $62.92.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase 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 (DPR) is 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.