Sterling Investment Advisors Ltd. Sells 2,590 Shares of Rio Tinto Group (NYSE:RIO)

Sterling Investment Advisors Ltd. trimmed its holdings in shares of Rio Tinto Group (NYSE:RIO) by 45.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,145 shares of the mining company’s stock after selling 2,590 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Rio Tinto Group were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Rio Tinto Group by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after buying an additional 55,967 shares during the last quarter. First City Capital Management Inc. boosted its holdings in shares of Rio Tinto Group by 118.5% in the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after buying an additional 8,230 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Rio Tinto Group by 38.1% in the 2nd quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after buying an additional 26,329 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at approximately $1,734,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE RIO traded up $0.67 during mid-day trading on Friday, reaching $65.28. The company had a trading volume of 2,574,420 shares, compared to its average volume of 2,770,920. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The firm has a market cap of $81.77 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.39 and a beta of 0.66. The business’s 50-day simple moving average is $64.89 and its 200 day simple moving average is $66.35.

Rio Tinto Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were given a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date was Friday, August 16th. Rio Tinto Group’s dividend payout ratio is presently 51.68%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.