Jones Financial Companies Lllp Grows Stock Holdings in Rio Tinto Group (NYSE:RIO)

Jones Financial Companies Lllp boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 390.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,632 shares of the mining company’s stock after purchasing an additional 55,442 shares during the period. Jones Financial Companies Lllp’s holdings in Rio Tinto Group were worth $4,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 valued at $29,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group during the fourth quarter valued at $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the fourth quarter valued at $50,000. Hara Capital LLC bought a new position in Rio Tinto Group in the third quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC boosted its position in Rio Tinto Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock worth $58,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RIO shares. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Trading Up 2.0 %

Shares of NYSE:RIO opened at $62.28 on Wednesday. The stock has a 50 day moving average of $60.87 and a 200 day moving average of $62.88. The company has a market cap of $78.04 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. 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. Shareholders of record on Friday, March 7th will be given a $2.23 dividend. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 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.