Whipplewood Advisors LLC Takes $73,000 Position in Rio Tinto Group (NYSE:RIO)

Whipplewood Advisors LLC purchased a new position in shares of Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,236 shares of the mining company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jeppson Wealth Management LLC raised its holdings in Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new position in Rio Tinto Group during the third quarter worth $1,345,000. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. purchased a new stake in Rio Tinto Group during the 3rd quarter worth about $1,440,000. Finally, Barclays PLC raised its holdings in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO opened at $60.51 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $75.82 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The stock’s 50 day moving average price is $60.77 and its two-hundred day moving average price is $62.89. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid 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 of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued 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 an average price target of $73.00.

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.