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

Huntington National Bank lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 27.8% during the fourth quarter, Holdings Channel reports. The firm owned 2,996 shares of the mining company’s stock after purchasing an additional 651 shares during the quarter. Huntington National Bank’s holdings in Rio Tinto Group were worth $176,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RIO. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rio Tinto Group by 26.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock valued at $77,000 after buying an additional 224 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Rio Tinto Group by 11.2% during the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock valued at $295,000 after acquiring an additional 416 shares during the period. IHT Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at approximately $232,000. Insigneo Advisory Services LLC boosted its stake in Rio Tinto Group by 103.7% in the 3rd quarter. Insigneo Advisory Services LLC now owns 11,582 shares of the mining company’s stock worth $824,000 after purchasing an additional 5,896 shares during the period. Finally, EP Wealth Advisors LLC grew its position in Rio Tinto Group by 26.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 6,641 shares of the mining company’s stock worth $473,000 after purchasing an additional 1,401 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $54.66 on Friday. Rio Tinto Group has a fifty-two week low of $53.96 and a fifty-two week high of $74.24. The stock’s 50-day moving average is $61.82 and its two-hundred day moving average is $62.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market cap of $68.54 billion, a P/E ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Jefferies Financial Group reduced 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 research report on Monday, January 6th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Buy” and a consensus price target 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.