Keel Point LLC Purchases New Shares in Rio Tinto Group (NYSE:RIO)

Keel Point LLC acquired a new position in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,362 shares of the mining company’s stock, valued at approximately $250,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after buying an additional 6,748,799 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after acquiring an additional 4,783,488 shares during the last quarter. Cowa LLC purchased a new stake in shares of Rio Tinto Group in the first quarter worth $26,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Rio Tinto Group during the third quarter valued at $42,346,000. Finally, Bank of America Corp DE raised its position in shares of Rio Tinto Group by 21.5% in the 1st quarter. Bank of America Corp DE now owns 2,609,312 shares of the mining company’s stock worth $178,999,000 after purchasing an additional 461,079 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RIO. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group began coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating on the stock. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.6 %

Shares of RIO stock opened at $65.70 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The firm’s 50 day moving average is $64.95 and its 200 day moving average is $67.02.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group 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.