FCA Corp TX Boosts Stake in Rio Tinto Group (NYSE:RIO)

FCA Corp TX lifted its holdings in Rio Tinto Group (NYSE:RIO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,190 shares of the mining company’s stock after purchasing an additional 245 shares during the quarter. FCA Corp TX’s holdings in Rio Tinto Group were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of RIO. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $47,000. HHM Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $50,000. Finally, FSC Wealth Advisors LLC raised its stake in shares of Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE:RIO opened at $62.02 on Friday. The firm has a market capitalization 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 has a 1 year low of $57.85 and a 1 year high of $74.24. The business has a 50 day simple moving average of $61.90 and a 200-day simple moving average of $62.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a dividend of $2.23 per share. 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 is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RIO shares. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.