Johnson Investment Counsel Inc. Has $1.03 Million Position in Rio Tinto Group (NYSE:RIO)

Johnson Investment Counsel Inc. grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,580 shares of the mining company’s stock after purchasing an additional 250 shares during the period. Johnson Investment Counsel Inc.’s holdings in Rio Tinto Group were worth $1,034,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Solitude Financial Services raised its position in shares of Rio Tinto Group by 23.6% during the fourth quarter. Solitude Financial Services now owns 9,150 shares of the mining company’s stock valued at $538,000 after buying an additional 1,750 shares during the last quarter. MQS Management LLC acquired a new position in Rio Tinto Group in the fourth quarter worth about $256,000. Sowell Financial Services LLC raised its position in Rio Tinto Group by 1.3% in the fourth quarter. Sowell Financial Services LLC now owns 19,841 shares of the mining company’s stock worth $1,167,000 after purchasing an additional 247 shares in the last quarter. Jackson Hole Capital Partners LLC acquired a new position in Rio Tinto Group in the fourth quarter worth about $331,000. Finally, Dorsey & Whitney Trust CO LLC raised its position in Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $60.83 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $76.23 billion, a price-to-earnings ratio of 9.43, 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 firm’s 50-day moving average price is $61.29 and its two-hundred day moving average price is $62.87.

Rio Tinto Group Increases Dividend

The company also recently disclosed 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. This represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

Analyst Ratings Changes

RIO has been the subject of several recent research reports. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.