O Shaughnessy Asset Management LLC Raises Stake in Rio Tinto Group (NYSE:RIO)

O Shaughnessy Asset Management LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,460 shares of the mining company’s stock after buying an additional 26,202 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Rio Tinto Group were worth $10,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RIO. FMR LLC boosted its stake in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after buying an additional 358,630 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Rio Tinto Group by 13.4% in the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company’s stock valued at $384,000 after acquiring an additional 637 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rio Tinto Group by 26.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock worth $77,000 after purchasing an additional 224 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $214,000. Finally, Hilltop Holdings Inc. increased its holdings in shares of Rio Tinto Group by 11.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock valued at $295,000 after purchasing an additional 416 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group has an average rating of “Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Down 1.5 %

RIO opened at $60.11 on Tuesday. The company’s 50 day simple moving average is $62.09 and its two-hundred day simple moving average is $62.94. The firm has a market capitalization of $75.37 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

Rio Tinto Group Increases Dividend

The business 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 $2.23 dividend. This represents a yield of 7%. The ex-dividend date 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 (DPR) is 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.