Rio Tinto Group (NYSE:RIO) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its position in Rio Tinto Group (NYSE:RIO) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,563 shares of the mining company’s stock after purchasing an additional 1,308 shares during the quarter. MML Investors Services LLC’s holdings in Rio Tinto Group were worth $2,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its holdings in Rio Tinto Group by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares during the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Rio Tinto Group by 10.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock worth $109,000 after acquiring an additional 169 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of 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 purchasing an additional 195 shares during the period. Cohen Investment Advisors LLC increased its holdings in Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after purchasing an additional 198 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its position in Rio Tinto Group by 2.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after purchasing an additional 200 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Barclays reissued an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the 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 Stock Performance

Shares of Rio Tinto Group stock opened at $60.58 on Monday. The business has a 50-day simple moving average of $60.24 and a 200-day simple moving average of $61.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24. The company has a market cap of $75.97 billion, a PE ratio of 9.39, a P/E/G ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were issued a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date was Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s 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.