Capital Investment Advisors LLC Has $8.54 Million Holdings in Rio Tinto Group (NYSE:RIO)

Capital Investment Advisors LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 70.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,958 shares of the mining company’s stock after selling 281,992 shares during the period. Capital Investment Advisors LLC’s holdings in Rio Tinto Group were worth $8,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIO. Bank of Montreal Can lifted its position in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after purchasing an additional 19,334 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Rio Tinto Group by 296.2% during the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after purchasing an additional 764,635 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Rio Tinto Group by 22.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock worth $62,392,000 after purchasing an additional 180,874 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after purchasing an additional 376,778 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.4 %

Shares of RIO stock opened at $65.36 on Friday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The stock has a fifty day moving average price of $64.66 and a 200 day moving average price of $66.33. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were given a $1.77 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 6.8%.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research analyst reports. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.