Brown Brothers Harriman & Co. Has $123,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Brown Brothers Harriman & Co. lifted its position in Rio Tinto Group (NYSE:RIO) by 148.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,092 shares of the mining company’s stock after purchasing an additional 1,250 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Rio Tinto Group were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RIO. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Rakuten Securities Inc. raised its position in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Rio Tinto Group in the fourth quarter worth $47,000. HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter worth $50,000. Finally, FSC Wealth Advisors LLC increased its stake in shares of Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.4 %

NYSE:RIO opened at $60.29 on Wednesday. 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 business’s 50-day simple moving average is $62.06 and its 200-day simple moving average is $62.93. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock has a market capitalization of $75.61 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is presently 69.15%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Buy” and a consensus target price of $73.00.

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.