Rio Tinto Group (NYSE:RIO) Stock Position Raised by Huntington National Bank

Huntington National Bank boosted its holdings in Rio Tinto Group (NYSE:RIO) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,996 shares of the mining company’s stock after acquiring an additional 651 shares during the period. Huntington National Bank’s holdings in Rio Tinto Group were worth $176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 period. Rakuten Securities Inc. boosted its holdings in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group during the fourth quarter valued at $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the fourth quarter worth about $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter worth about $50,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 6.5 %

Shares of Rio Tinto Group stock opened at $54.66 on Friday. The business has a fifty day simple moving average of $61.82 and a 200-day simple moving average of $62.81. Rio Tinto Group has a fifty-two week low of $53.96 and a fifty-two week high of $74.24. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently declared 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. This represents a yield of 7%. 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. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Jefferies Financial Group decreased their price objective 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. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average 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.