Crescent Grove Advisors LLC Decreases Stake in Rio Tinto Group (NYSE:RIO)

Crescent Grove Advisors LLC lessened its holdings in Rio Tinto Group (NYSE:RIO) by 34.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,260 shares of the mining company’s stock after selling 2,810 shares during the period. Crescent Grove Advisors LLC’s holdings in Rio Tinto Group were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the first quarter worth $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Rio Tinto Group during the first quarter valued at about $29,000. Accordant Advisory Group Inc purchased a new stake in Rio Tinto Group during the first quarter worth about $31,000. Finally, LifeSteps Financial Inc. bought a new stake in Rio Tinto Group in the first quarter worth about $33,000. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of RIO traded up $1.39 during midday trading on Wednesday, hitting $63.39. 2,217,358 shares of the company traded hands, compared to its average volume of 2,726,724. Rio Tinto Group has a one year low of $59.80 and a one year high of $75.09. The firm has a market cap of $79.40 billion, a P/E ratio of 8.85, a PEG ratio of 0.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock has a 50-day moving average of $65.12 and a 200-day moving average of $66.32.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be issued a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 49.30%.

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.