Acadian Asset Management LLC Sells 1,075,464 Shares of Rio Tinto Group (NYSE:RIO)

Acadian Asset Management LLC lessened its holdings in Rio Tinto Group (NYSE:RIO) by 98.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,527 shares of the mining company’s stock after selling 1,075,464 shares during the quarter. Acadian Asset Management LLC’s holdings in Rio Tinto Group were worth $1,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake 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 purchasing an additional 55,967 shares in the last quarter. QRG Capital Management Inc. boosted its stake 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 purchasing an additional 26,329 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $4,319,000. Capstone Investment Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $1,734,000. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Rio Tinto Group by 12.2% in the 1st quarter. Salem Investment Counselors Inc. now owns 127,216 shares of the mining company’s stock valued at $8,430,000 after purchasing an additional 13,856 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.55 on Monday. 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 1 year low of $59.35 and a 1 year high of $75.09. The company’s 50-day moving average is $63.51 and its two-hundred day moving average is $65.71.

Rio Tinto Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be given a dividend of $1.77 per share. The ex-dividend date is Friday, August 16th. This represents a yield of 6.8%.

Wall Street Analyst Weigh In

RIO has been the topic of several recent analyst reports. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Five 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 stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy”.

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.