Jones Financial Companies Lllp Purchases 55,442 Shares of Rio Tinto Group (NYSE:RIO)

Jones Financial Companies Lllp lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 390.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,632 shares of the mining company’s stock after purchasing an additional 55,442 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rio Tinto Group were worth $4,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the fourth 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 position in Rio Tinto Group during the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group during the 4th quarter valued at about $50,000. Hara Capital LLC bought a new stake in Rio Tinto Group during the third quarter worth about $53,000. Finally, Nisa Investment Advisors LLC grew its holdings 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 period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $62.28 on Wednesday. The firm has a market cap of $78.04 billion, a P/E ratio of 9.66, a PEG ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. 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 50 day moving average of $60.87 and a 200 day moving average of $62.88.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

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