Sequoia Financial Advisors LLC Boosts Stock Holdings in Rio Tinto Group (NYSE:RIO)

Sequoia Financial Advisors LLC grew its position in shares of Rio Tinto Group (NYSE:RIO) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,426 shares of the mining company’s stock after acquiring an additional 816 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rio Tinto Group were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its stake in shares of Rio Tinto Group by 1.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 17,580 shares of the mining company’s stock worth $1,034,000 after purchasing an additional 250 shares during the period. Solitude Financial Services raised its stake in Rio Tinto Group by 23.6% in the 4th quarter. Solitude Financial Services now owns 9,150 shares of the mining company’s stock valued at $538,000 after acquiring an additional 1,750 shares during the period. MQS Management LLC bought a new stake in Rio Tinto Group in the 4th quarter valued at about $256,000. Sowell Financial Services LLC raised its stake in Rio Tinto Group by 1.3% in the 4th quarter. Sowell Financial Services LLC now owns 19,841 shares of the mining company’s stock valued at $1,167,000 after acquiring an additional 247 shares during the period. Finally, Jackson Hole Capital Partners LLC bought a new stake in Rio Tinto Group in the 4th quarter valued at about $331,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Up 0.6 %

Shares of NYSE RIO opened at $63.44 on Tuesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $79.49 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.42 and a beta of 0.60. The business has a 50-day moving average of $61.53 and a 200-day moving average of $62.84.

Rio Tinto Group Increases Dividend

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

Analyst Ratings Changes

RIO has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate 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.