Brighton Jones LLC Invests $400,000 in Rio Tinto Group (NYSE:RIO)

Brighton Jones LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,378 shares of the mining company’s stock, valued at approximately $400,000.

A number of other hedge funds have also bought and sold shares of the company. Schechter Investment Advisors LLC raised its position in shares of Rio Tinto Group by 10.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after acquiring an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at approximately $7,954,000. Sei Investments Co. lifted its stake in Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after buying an additional 111,623 shares during the period. Morgan Stanley boosted its holdings in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after buying an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after buying an additional 3,852 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RIO shares. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Stock Up 1.2 %

Shares of RIO opened at $68.29 on Friday. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The stock has a 50 day moving average price of $64.99 and a two-hundred day moving average price of $67.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were issued a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This represents a yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.