Hamilton Point Investment Advisors LLC Raises Stake in Rio Tinto Group (NYSE:RIO)

Hamilton Point Investment Advisors LLC grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,777 shares of the mining company’s stock after purchasing an additional 316 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Rio Tinto Group were worth $3,185,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Rio Tinto Group by 41.0% in the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in 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 period. Cowa LLC purchased a new stake in Rio Tinto Group in the first quarter worth about $26,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Rio Tinto Group in the third quarter worth about $42,346,000. Finally, Bank of America Corp DE lifted its stake in Rio Tinto Group by 21.5% in the first quarter. Bank of America Corp DE now owns 2,609,312 shares of the mining company’s stock worth $178,999,000 after acquiring an additional 461,079 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded up $0.79 during trading on Monday, hitting $66.78. 3,847,677 shares of the stock traded hands, compared to its average volume of 2,944,273. 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 company has a fifty day moving average price of $65.02 and a two-hundred day moving average price of $66.99. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

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

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.