New York State Common Retirement Fund Has $25.37 Million Stock Position in Rio Tinto Group (NYSE:RIO)

New York State Common Retirement Fund boosted its holdings in Rio Tinto Group (NYSE:RIO) by 50.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,716 shares of the mining company’s stock after buying an additional 113,778 shares during the quarter. New York State Common Retirement Fund’s holdings in Rio Tinto Group were worth $25,370,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Dana Investment Advisors Inc. boosted its stake in Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after buying an additional 150 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Rio Tinto Group by 1.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after buying an additional 172 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Rio Tinto Group by 2.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after buying an additional 172 shares in the last quarter. Uncommon Cents Investing LLC boosted its stake in Rio Tinto Group by 0.3% in the fourth quarter. Uncommon Cents Investing LLC now owns 56,090 shares of the mining company’s stock valued at $4,176,000 after buying an additional 175 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in Rio Tinto Group by 4.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,464 shares of the mining company’s stock valued at $284,000 after buying an additional 187 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $68.23 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The stock has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $67.27.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RIO shares. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

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.