Cary Street Partners Financial LLC Acquires Shares of 4,126 Rio Tinto Group (NYSE:RIO)

Cary Street Partners Financial LLC bought a new position in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 4,126 shares of the mining company’s stock, valued at approximately $243,000.

Several other large investors have also recently modified their holdings of the stock. Fisher Asset Management LLC boosted its holdings in Rio Tinto Group by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after acquiring an additional 76,368 shares during the period. Franklin Resources Inc. grew its holdings in shares of Rio Tinto Group by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after purchasing an additional 70,131 shares during the last quarter. FMR LLC increased its stake in Rio Tinto Group by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock worth $101,253,000 after buying an additional 339,924 shares during the period. Northern Trust Corp lifted its holdings in Rio Tinto Group by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after buying an additional 255,151 shares in the last quarter. Finally, Todd Asset Management LLC boosted its position in Rio Tinto Group by 1.0% in the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after buying an additional 10,062 shares during the period. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RIO shares. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. 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. Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 1.3 %

Shares of NYSE RIO opened at $59.97 on Friday. 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 company has a 50-day moving average of $59.77 and a 200 day moving average of $61.13. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24. The stock has a market cap of $75.20 billion, a PE ratio of 9.30, a P/E/G ratio of 0.42 and a beta of 0.73.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group Company 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.