Sowell Financial Services LLC Has $1.17 Million Position in Rio Tinto Group (NYSE:RIO)

Sowell Financial Services LLC lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,841 shares of the mining company’s stock after buying an additional 247 shares during the period. Sowell Financial Services LLC’s holdings in Rio Tinto Group were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the fourth quarter valued at $50,000. Newbridge Financial Services Group Inc. bought a new position in shares of Rio Tinto Group in the fourth quarter valued at $59,000. Finally, FSC Wealth Advisors LLC increased its holdings in Rio Tinto Group by 150.0% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after buying an additional 600 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.14 on Tuesday. The firm has a market capitalization of $77.86 billion, a PE ratio of 9.63, a PEG ratio of 0.42 and a beta of 0.60. 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 company’s 50-day moving average is $61.19 and its 200-day moving average is $62.89. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week 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. Shareholders of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is an increase 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 (DPR) is 69.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RIO. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group lowered their price target on 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.