Sagespring Wealth Partners LLC Acquires Shares of 4,252 Rio Tinto Group (NYSE:RIO)

Sagespring Wealth Partners LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,252 shares of the mining company’s stock, valued at approximately $250,000.

Several other institutional investors have also modified their holdings of RIO. Rakuten Securities Inc. raised its position in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased 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 buying an additional 195 shares during the last quarter. Mechanics Financial Corp acquired a new stake in Rio Tinto Group in the fourth quarter valued at $29,000. Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the 4th quarter valued at $47,000. Finally, HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group during the 4th quarter worth $50,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $57.13 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. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The stock has a fifty day moving average price of $60.70 and a 200 day moving average price of $62.09. The stock has a market cap of $71.64 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The business also recently announced 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 is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analyst Ratings Changes

A number of research firms recently commented on RIO. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 12th. Morgan Stanley lowered Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price 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.