Whipplewood Advisors LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Whipplewood Advisors LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,236 shares of the mining company’s stock, valued at approximately $73,000.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced 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. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 0.3 %

NYSE:RIO opened at $60.51 on Friday. Rio Tinto Group has a one year low of $57.85 and a one 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 company has a market cap of $75.82 billion, a PE ratio of 9.38, a P/E/G ratio of 0.42 and a beta of 0.65. The firm’s 50 day simple moving average is $60.77 and its 200 day simple moving average is $62.89.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a $2.23 dividend. This represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

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.