2,797 Shares in Rio Tinto Group (NYSE:RIO) Bought by Planned Solutions Inc.

Planned Solutions Inc. bought a new position in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,797 shares of the mining company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schechter Investment Advisors LLC increased its stake in 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 buying an additional 858 shares during the period. Sei Investments Co. raised its position in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after buying an additional 111,623 shares during the last quarter. Morgan Stanley raised its position 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 worth $284,111,000 after buying an additional 118,706 shares during the last quarter. LPL Financial LLC raised its position in Rio Tinto Group by 4.0% during the 3rd quarter. LPL Financial LLC now owns 369,931 shares of the mining company’s stock worth $23,542,000 after buying an additional 14,083 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Rio Tinto Group by 16.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 404,189 shares of the mining company’s stock worth $25,723,000 after buying an additional 57,818 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.1 %

Shares of RIO stock opened at $63.46 on Thursday. The company’s 50-day moving average price is $66.19 and its 200-day moving average price is $66.91. 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 has a twelve month low of $58.27 and a twelve month high of $75.09.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RIO. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. BNP Paribas raised shares of Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 5th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

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.