Integrated Quantitative Investments LLC Acquires New Holdings in Rio Tinto Group (NYSE:RIO)

Integrated Quantitative Investments LLC bought a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The fund bought 6,300 shares of the mining company’s stock, valued at approximately $371,000.

Several other large investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after acquiring an additional 76,368 shares in the last quarter. Franklin Resources Inc. boosted its stake in Rio Tinto Group by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock valued at $300,841,000 after purchasing an additional 70,131 shares in the last quarter. Todd Asset Management LLC raised its stake in shares of Rio Tinto Group by 1.0% in the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock worth $62,820,000 after buying an additional 10,062 shares in the last quarter. Palliser Capital UK Ltd lifted its holdings in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares during the period. Finally, Natixis Advisors LLC boosted its stake in Rio Tinto Group by 11.2% during the fourth quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company’s stock valued at $44,928,000 after buying an additional 77,130 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 6.5 %

NYSE RIO opened at $54.66 on Friday. The firm’s 50 day moving average price is $61.82 and its two-hundred day moving average price is $62.82. The stock has a market cap of $68.54 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a twelve month low of $53.96 and a twelve month high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

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