Sequoia Financial Advisors LLC Raises Stock Holdings in Rio Tinto Group (NYSE:RIO)

Sequoia Financial Advisors LLC boosted its position in Rio Tinto Group (NYSE:RIO) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,426 shares of the mining company’s stock after buying an additional 816 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rio Tinto Group were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% in the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. purchased a new stake in Rio Tinto Group in the third quarter worth approximately $1,440,000. Barclays PLC boosted its stake in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after buying an additional 232,539 shares in the last quarter. Finally, Marshall Financial Group LLC purchased a new stake in Rio Tinto Group in the fourth quarter worth approximately $810,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $63.44 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $79.49 billion, a PE ratio of 9.84, a P/E/G ratio of 0.42 and a beta of 0.60. The business has a 50 day moving average of $61.53 and a 200 day moving average of $62.84. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. 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. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.