Signaturefd LLC Purchases 2,734 Shares of Rio Tinto Group (NYSE:RIO)

Signaturefd LLC grew its position in shares of Rio Tinto Group (NYSE:RIO) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,436 shares of the mining company’s stock after purchasing an additional 2,734 shares during the quarter. Signaturefd LLC’s holdings in Rio Tinto Group were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. increased its position in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at about $50,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Rio Tinto Group during the 4th quarter valued at about $59,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 1.0 %

NYSE RIO opened at $64.12 on Wednesday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week 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. The stock has a 50 day simple moving average of $61.65 and a two-hundred day simple moving average of $62.85. The stock has a market cap of $80.35 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday. They set an “overweight” rating for the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price 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.