Eads & Heald Wealth Management Purchases New Holdings in Rio Tinto Group (NYSE:RIO)

Eads & Heald Wealth Management purchased a new stake in Rio Tinto Group (NYSE:RIO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 3,900 shares of the mining company’s stock, valued at approximately $290,000.

Several other institutional investors have also recently added to or reduced their stakes in RIO. Dana Investment Advisors Inc. raised its stake in shares of Rio Tinto Group by 0.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after buying an additional 150 shares in the last quarter. Ambassador Advisors LLC increased its stake in Rio Tinto Group by 3.6% in the 4th quarter. Ambassador Advisors LLC now owns 4,398 shares of the mining company’s stock valued at $313,000 after purchasing an additional 153 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Rio Tinto Group by 1.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after purchasing an additional 172 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Rio Tinto Group by 2.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after purchasing an additional 172 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Rio Tinto Group by 1.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 13,815 shares of the mining company’s stock valued at $948,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 2.5 %

Rio Tinto Group stock traded down $1.68 during midday trading on Tuesday, reaching $65.09. The stock had a trading volume of 974,399 shares, compared to its average volume of 2,920,308. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The stock’s 50-day simple moving average is $65.01 and its 200 day simple moving average is $67.01.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be given a $2.58 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%.

Wall Street Analyst Weigh In

RIO has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.