Schechter Investment Advisors LLC Purchases 688 Shares of Rio Tinto Group (NYSE:RIO)

Schechter Investment Advisors LLC increased its position in Rio Tinto Group (NYSE:RIO) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,420 shares of the mining company’s stock after acquiring an additional 688 shares during the period. Schechter Investment Advisors LLC’s holdings in Rio Tinto Group were worth $701,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares during the period. Morgan Stanley lifted its position in Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. LPL Financial LLC lifted its position in Rio Tinto Group by 4.0% during the third quarter. LPL Financial LLC now owns 369,931 shares of the mining company’s stock valued at $23,542,000 after purchasing an additional 14,083 shares in the last quarter. Capital Investment Advisors LLC lifted its position in Rio Tinto Group by 16.7% during the third quarter. Capital Investment Advisors LLC now owns 404,189 shares of the mining company’s stock valued at $25,723,000 after purchasing an additional 57,818 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in Rio Tinto Group by 88.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after purchasing an additional 3,852 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $63.74 on Friday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average price is $66.10 and its 200-day moving average price is $66.89.

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 $2.58 dividend. This represents a dividend yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RIO. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. BNP Paribas upgraded Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 5th. Finally, The Goldman Sachs Group started coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.