Orion Portfolio Solutions LLC Increases Position in Rio Tinto Group (NYSE:RIO)

Orion Portfolio Solutions LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,592 shares of the mining company’s stock after purchasing an additional 3,261 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Rio Tinto Group were worth $2,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RIO. Fisher Asset Management LLC raised its holdings in shares of Rio Tinto Group by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock worth $1,035,319,000 after acquiring an additional 76,368 shares during the last quarter. FMR LLC boosted its holdings in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Todd Asset Management LLC boosted its holdings in Rio Tinto Group by 1.0% in the fourth quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after acquiring an additional 10,062 shares during the last quarter. Palliser Capital UK Ltd increased its stake in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Rio Tinto Group by 11.2% in the 4th quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company’s stock worth $44,928,000 after purchasing an additional 77,130 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

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

Rio Tinto Group Price Performance

RIO stock opened at $60.11 on Tuesday. The stock’s 50 day moving average is $62.09 and its two-hundred day moving average is $62.94. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a market capitalization of $75.37 billion, a PE ratio of 9.32, a P/E/G ratio of 0.42 and a beta of 0.60. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

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.