Rio Tinto Group (NYSE:RIO) Shares Bought by Whittier Trust Co.

Whittier Trust Co. lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 38.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,523 shares of the mining company’s stock after acquiring an additional 7,392 shares during the period. Whittier Trust Co.’s holdings in Rio Tinto Group were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jeppson Wealth Management LLC grew its stake in shares of Rio Tinto Group by 47.5% in 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. Fisher Asset Management LLC lifted its holdings in 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 worth $1,247,475,000 after purchasing an additional 485,731 shares during the period. Barclays PLC grew its position 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 buying an additional 232,539 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter worth about $810,000. Finally, Palliser Capital UK Ltd lifted its stake in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO opened at $62.02 on Friday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a 50-day moving average of $61.90 and a two-hundred day moving average of $62.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The stock has a market cap of $77.71 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of research analyst reports. Jefferies Financial Group lowered 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 research note on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday. They set an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.