MQS Management LLC Invests $256,000 in Rio Tinto Group (NYSE:RIO)

MQS Management LLC purchased a new position in Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,348 shares of the mining company’s stock, valued at approximately $256,000. Rio Tinto Group comprises 7.3% of MQS Management LLC’s investment portfolio, making the stock its 2nd largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth $47,000. HHM Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth $50,000. FSC Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after buying an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth $59,000. 19.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Jefferies Financial Group lowered their price target on 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 2.5 %

NYSE RIO opened at $62.33 on Monday. The stock’s 50-day simple moving average is $61.12 and its two-hundred day simple moving average is $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 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 capitalization of $78.10 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

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.