Rio Tinto Group (NYSE:RIO) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 3,363.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,945 shares of the mining company's stock after purchasing an additional 57,243 shares during the quarter. Tower Research Capital LLC TRC's holdings in Rio Tinto Group were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky raised its holdings in Rio Tinto Group by 3.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 671,370 shares of the mining company's stock worth $39,483,000 after purchasing an additional 21,190 shares in the last quarter. Sharpepoint LLC acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $1,147,000. MML Investors Services LLC raised its holdings in Rio Tinto Group by 3.2% during the fourth quarter. MML Investors Services LLC now owns 41,563 shares of the mining company's stock worth $2,444,000 after purchasing an additional 1,308 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Rio Tinto Group in the 4th quarter valued at $1,969,000. Finally, Forum Financial Management LP increased its holdings in shares of Rio Tinto Group by 93.8% in the 4th quarter. Forum Financial Management LP now owns 8,299 shares of the mining company's stock valued at $488,000 after acquiring an additional 4,017 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

NYSE:RIO traded down $1.11 during mid-day trading on Friday, reaching $60.58. The stock had a trading volume of 2,694,997 shares, compared to its average volume of 2,864,427. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a market capitalization of $75.97 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The business has a 50 day simple moving average of $60.24 and a 200 day simple moving average of $61.52.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were given a $2.23 dividend. The ex-dividend date was 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 (DPR) is presently 69.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 20th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Finally, Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of "Buy" and an average 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.