Trust Investment Advisors Boosts Stock Position in Rio Tinto Group (NYSE:RIO)

Trust Investment Advisors grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 37,459 shares of the mining company’s stock after purchasing an additional 2,100 shares during the period. Rio Tinto Group makes up 1.4% of Trust Investment Advisors’ holdings, making the stock its 13th biggest holding. Trust Investment Advisors’ holdings in Rio Tinto Group were worth $2,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. Rakuten Securities Inc. lifted its position in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group in the fourth quarter valued at $47,000. HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Rio Tinto Group in the fourth quarter valued at $59,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $62.86 on Wednesday. The stock has a fifty day moving average price of $62.01 and a 200 day moving average price of $62.92. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The firm has a market capitalization of $78.77 billion, a P/E ratio of 9.75, a PEG ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, March 7th. This is a positive change 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 is currently 69.15%.

Wall Street Analyst Weigh In

RIO has been the topic of several research analyst reports. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. 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. Finally, 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 research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average target price 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.