Rio Tinto Group (NYSE:RIO) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its position in Rio Tinto Group (NYSE:RIO) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,844 shares of the mining company’s stock after buying an additional 21,403 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Rio Tinto Group were worth $5,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RIO. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at about $1,345,000. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares during the period. Northwest Bancshares Inc. purchased a new position in shares of Rio Tinto Group during the third quarter worth about $1,440,000. Finally, Barclays PLC increased its position in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $63.93 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $61.06 and a 200-day simple moving average of $62.89. The company has a market cap of $80.10 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders 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 represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analyst Ratings Changes

RIO has been the subject of a number of recent research reports. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.