Rio Tinto Group (NYSE:RIO) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in Rio Tinto Group (NYSE:RIO) by 119.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,555 shares of the mining company’s stock after purchasing an additional 136,396 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Rio Tinto Group were worth $14,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Townsquare Capital LLC grew its stake in shares of Rio Tinto Group by 13.4% during the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company’s stock worth $384,000 after acquiring an additional 637 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rio Tinto Group by 26.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock worth $77,000 after purchasing an additional 224 shares during the last quarter. Hilltop Holdings Inc. increased its stake in Rio Tinto Group by 11.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock valued at $295,000 after purchasing an additional 416 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $232,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Rio Tinto Group during the third quarter valued at $2,256,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 6.5 %

Rio Tinto Group stock opened at $54.66 on Friday. The firm has a market cap of $68.54 billion, a PE ratio of 8.47, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12 month low of $53.96 and a 12 month high of $74.24. The stock’s 50 day simple moving average is $61.82 and its two-hundred day simple moving average is $62.82. 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. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. The ex-dividend date of this dividend 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 is 69.15%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RIO. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Jefferies Financial Group reduced 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. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Three analysts have rated the stock with a hold rating, four have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $73.00.

About Rio Tinto Group

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.