Western Pacific Wealth Management LP Buys 233 Shares of Rio Tinto Group (NYSE:RIO)

Western Pacific Wealth Management LP boosted its holdings in Rio Tinto Group (NYSE:RIO) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,169 shares of the mining company’s stock after purchasing an additional 233 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Rio Tinto Group were worth $87,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RIO. Orion Portfolio Solutions LLC grew its position in Rio Tinto Group by 6.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 38,917 shares of the mining company’s stock valued at $2,477,000 after purchasing an additional 2,400 shares during the period. Cozad Asset Management Inc. grew its position in Rio Tinto Group by 32.0% in the 3rd quarter. Cozad Asset Management Inc. now owns 8,973 shares of the mining company’s stock valued at $571,000 after purchasing an additional 2,176 shares during the period. Lmcg Investments LLC grew its position in Rio Tinto Group by 3.0% in the 3rd quarter. Lmcg Investments LLC now owns 106,199 shares of the mining company’s stock valued at $6,759,000 after purchasing an additional 3,081 shares during the period. US Bancorp DE boosted its holdings in Rio Tinto Group by 0.4% during the 3rd quarter. US Bancorp DE now owns 121,407 shares of the mining company’s stock worth $7,726,000 after acquiring an additional 528 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Rio Tinto Group by 11.3% during the 3rd quarter. Signaturefd LLC now owns 22,474 shares of the mining company’s stock worth $1,430,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RIO. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Performance

NYSE RIO traded down $0.22 during trading on Monday, hitting $73.39. 3,373,617 shares of the company’s stock traded hands, compared to its average volume of 2,924,909. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The stock has a market capitalization of $91.92 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The business has a 50 day moving average of $66.27 and a 200-day moving average of $68.05.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were issued a $2.58 dividend. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 71.33%.

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.