Rio Tinto Group (NYSE:RIO) Shares Bought by Trust Investment Advisors

Trust Investment Advisors boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,459 shares of the mining company’s stock after buying an additional 2,100 shares during the quarter. Rio Tinto Group accounts for about 1.4% of Trust Investment Advisors’ portfolio, making the stock its 13th largest holding. Trust Investment Advisors’ holdings in Rio Tinto Group were worth $2,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares during the period. Golden State Wealth Management LLC purchased a new position in Rio Tinto Group during the fourth quarter valued at approximately $47,000. HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at approximately $50,000. Finally, FSC Wealth Advisors LLC boosted its position in Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after purchasing an additional 600 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.86 on Wednesday. The firm has a 50-day simple moving average of $62.01 and a two-hundred day simple moving average of $62.92. The stock has a market cap of $78.77 billion, a PE ratio of 9.75, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

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 a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio is 69.15%.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 report on Monday, January 6th. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.