680,700 Shares in Rio Tinto Group (NYSE:RIO) Acquired by Paloma Partners Management Co

Paloma Partners Management Co purchased a new position in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 680,700 shares of the mining company’s stock, valued at approximately $40,032,000. Rio Tinto Group accounts for 1.8% of Paloma Partners Management Co’s portfolio, making the stock its 15th biggest holding. Paloma Partners Management Co owned about 0.05% of Rio Tinto Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. Barclays PLC boosted its holdings in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after acquiring an additional 232,539 shares during the period. McIlrath & Eck LLC boosted its stake in shares of Rio Tinto Group by 20.6% during the 3rd quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company’s stock valued at $98,000 after buying an additional 236 shares during the last quarter. Advisory Resource Group boosted its stake in shares of Rio Tinto Group by 11.1% during the 3rd quarter. Advisory Resource Group now owns 16,812 shares of the mining company’s stock valued at $1,197,000 after buying an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its stake in shares of Rio Tinto Group by 11.3% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock valued at $371,000 after buying an additional 529 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of Rio Tinto Group by 5.9% during the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company’s stock valued at $342,000 after buying an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $60.89 on Tuesday. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The business’s fifty day moving average price is $60.20 and its two-hundred day moving average price is $61.47. The firm has a market capitalization of $76.35 billion, a PE ratio of 9.44, a P/E/G 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 was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were given a $2.23 dividend. The ex-dividend date was 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 (DPR) is currently 69.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Barclays reiterated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Morgan Stanley cut Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. Four investment 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. According to MarketBeat, Rio Tinto Group 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.