Quantinno Capital Management LP Purchases 33,918 Shares of Rio Tinto Group (NYSE:RIO)

Quantinno Capital Management LP lifted its position in Rio Tinto Group (NYSE:RIO) by 53.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,459 shares of the mining company’s stock after acquiring an additional 33,918 shares during the quarter. Quantinno Capital Management LP’s holdings in Rio Tinto Group were worth $5,732,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RIO. XTX Topco Ltd bought a new stake in Rio Tinto Group in the fourth quarter worth about $1,241,000. Rossby Financial LCC bought a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $360,000. Jeppson Wealth Management LLC boosted its holdings in Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after acquiring an additional 6,473 shares during the period. Barclays PLC grew its position in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC bought a new position in Rio Tinto Group in the 4th quarter valued at $810,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $62.61 on Friday. The firm has a 50 day moving average of $59.71 and a 200 day moving average of $61.01. 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 $78.51 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIO. Barclays reissued an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.