Parallel Advisors LLC Sells 193 Shares of Rio Tinto Group (NYSE:RIO)

Parallel Advisors LLC trimmed its stake in Rio Tinto Group (NYSE:RIO) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,403 shares of the mining company’s stock after selling 193 shares during the period. Parallel Advisors LLC’s holdings in Rio Tinto Group were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RIO. Wellington Management Group LLP increased its stake in shares of Rio Tinto Group by 7.1% in the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after buying an additional 1,644,751 shares during the period. Fisher Asset Management LLC increased its position in Rio Tinto Group by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after purchasing an additional 449,536 shares during the period. Earnest Partners LLC raised its holdings in 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% in 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 period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after purchasing an additional 180,874 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $62.91 on Thursday. The business has a 50-day simple moving average of $63.26 and a 200 day simple moving average of $65.67. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. 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 disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.77 per share. The ex-dividend date is Friday, August 16th. This represents a dividend yield of 6.8%.

Wall Street Analyst Weigh In

RIO has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Finally, Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Five research 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’s stock. According to MarketBeat.com, Rio Tinto Group 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.