Mission Wealth Management LP Has $417,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Mission Wealth Management LP grew its position in shares of Rio Tinto Group (NYSE:RIO) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,595 shares of the mining company’s stock after acquiring an additional 1,213 shares during the quarter. Mission Wealth Management LP’s holdings in Rio Tinto Group were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

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

Rio Tinto Group Trading Up 1.0 %

NYSE:RIO opened at $68.97 on Friday. The firm’s 50 day moving average is $64.99 and its 200 day moving average is $67.43. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RIO shares. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.