MQS Management LLC Invests $256,000 in Rio Tinto Group (NYSE:RIO)

MQS Management LLC acquired a new position in Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,348 shares of the mining company’s stock, valued at approximately $256,000. Rio Tinto Group comprises 7.3% of MQS Management LLC’s investment portfolio, making the stock its 2nd biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sowell Financial Services LLC raised its stake in shares of 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 during the last quarter. Jackson Hole Capital Partners LLC purchased a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $331,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Rio Tinto Group by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after acquiring an additional 160 shares during the last quarter. Banco Santander S.A. increased its position in shares of Rio Tinto Group by 16.0% during the fourth quarter. Banco Santander S.A. now owns 32,296 shares of the mining company’s stock valued at $1,899,000 after acquiring an additional 4,461 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $94,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RIO. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group decreased their price target on 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. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.33 on Monday. The stock has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $62.89. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The firm has a market cap of $78.10 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth 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 disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is 69.15%.

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.