Rio Tinto Group (NYSE:RIO) Shares Purchased by Banco Santander S.A.

Banco Santander S.A. raised its position in Rio Tinto Group (NYSE:RIO) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,296 shares of the mining company’s stock after acquiring an additional 4,461 shares during the period. Banco Santander S.A.’s holdings in Rio Tinto Group were worth $1,899,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC lifted its stake in shares of Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after acquiring an additional 6,473 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. purchased a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $1,440,000. Barclays PLC increased its holdings in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares in the last quarter. Finally, Marshall Financial Group LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at about $810,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.33 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $61.12 and a two-hundred day moving average price of $62.89. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a market capitalization of $78.10 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm 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 an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group cut 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 report on Monday, January 6th. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average price target 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.