Johnson Investment Counsel Inc. Has $1.03 Million Position in Rio Tinto Group (NYSE:RIO)

Johnson Investment Counsel Inc. grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,580 shares of the mining company’s stock after acquiring an additional 250 shares during the period. Johnson Investment Counsel Inc.’s holdings in Rio Tinto Group were worth $1,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after acquiring an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Cohen Investment Advisors LLC grew its holdings in shares of Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after acquiring an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after acquiring an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Rio Tinto Group by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after acquiring an additional 203 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.6 %

RIO stock opened at $60.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a 50-day moving average of $61.29 and a two-hundred day moving average of $62.87. The stock has a market capitalization of $76.23 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is 69.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group decreased their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average price target of $73.00.

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.