Rhumbline Advisers Boosts Stock Holdings in Rio Tinto Group (NYSE:RIO)

Rhumbline Advisers increased its position in shares of Rio Tinto Group (NYSE:RIO) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,793 shares of the mining company’s stock after purchasing an additional 266 shares during the period. Rhumbline Advisers’ holdings in Rio Tinto Group were worth $1,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Palliser Capital UK Ltd boosted its stake in Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares in the last quarter. SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after buying an additional 404,131 shares in the last quarter. FMR LLC grew its position in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $20,026,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.0 %

NYSE RIO opened at $62.28 on Wednesday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a 50-day simple moving average of $60.87 and a 200-day simple moving average of $62.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a market capitalization of $78.04 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is 69.15%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RIO shares. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group dropped 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 note on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

About Rio Tinto Group

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.