Mesirow Financial Investment Management Inc. Has $252,000 Stake in Rio Tinto Group (NYSE:RIO)

Mesirow Financial Investment Management Inc. decreased its stake in Rio Tinto Group (NYSE:RIO) by 52.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,286 shares of the mining company’s stock after selling 4,683 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Rio Tinto Group were worth $252,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at approximately $50,000. FSC Wealth Advisors LLC raised its position in Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after buying an additional 600 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Rio Tinto Group in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 2.5 %

RIO stock opened at $62.33 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $61.12 and a two-hundred day moving average price of $62.89. The company has a market cap of $78.10 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Analyst Upgrades and Downgrades

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

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.