Rio Tinto Group (NYSE:RIO) Shares Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP lifted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 173.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,674 shares of the mining company's stock after purchasing an additional 32,800 shares during the period. Bayesian Capital Management LP's holdings in Rio Tinto Group were worth $3,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $1,241,000. Rossby Financial LCC acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth about $360,000. Jeppson Wealth Management LLC raised its holdings in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock valued at $1,182,000 after buying an additional 6,473 shares during the period. Barclays PLC boosted its stake in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after buying an additional 232,539 shares during the period. Finally, Marshall Financial Group LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter valued at about $810,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

RIO traded up $0.79 during midday trading on Friday, reaching $59.97. 829,050 shares of the company's stock were exchanged, compared to its average volume of 2,852,489. The business's 50-day moving average price is $59.81 and its 200 day moving average price is $61.19. The stock has a market capitalization of $75.20 billion, a PE ratio of 9.30, a P/E/G ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were given a dividend of $2.23 per share. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Friday, March 7th. This represents a yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) is presently 69.15%.

Wall Street Analyst Weigh In

RIO has been the topic of a number of research reports. Barclays restated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Morgan Stanley lowered Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. 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 upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has an average 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.