Quantinno Capital Management LP Raises Stake in Rio Tinto Group (NYSE:RIO)

Quantinno Capital Management LP increased its position in Rio Tinto Group (NYSE:RIO - Free Report) by 53.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,459 shares of the mining company's stock after buying an additional 33,918 shares during the quarter. Quantinno Capital Management LP's holdings in Rio Tinto Group were worth $5,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. 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 worth $29,000 after purchasing an additional 195 shares during the period. Rakuten Securities Inc. grew its position in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after acquiring an additional 211 shares in the last quarter. Mechanics Financial Corp acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $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 owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.2%

Shares of NYSE:RIO traded down $0.13 during trading on Tuesday, reaching $62.26. 2,127,932 shares of the stock were exchanged, compared to its average volume of 2,843,322. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The firm has a market cap of $78.07 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. 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 stock has a fifty day moving average of $59.76 and a two-hundred day moving average of $60.97.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RIO. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.