UMB Bank n.a. Sells 631 Shares of Rio Tinto Group (NYSE:RIO)

UMB Bank n.a. trimmed its holdings in Rio Tinto Group (NYSE:RIO) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,977 shares of the mining company’s stock after selling 631 shares during the quarter. UMB Bank n.a.’s holdings in Rio Tinto Group were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares during the last quarter. Fisher Asset Management LLC grew its position in Rio Tinto Group by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock worth $1,192,830,000 after buying an additional 449,536 shares in the last quarter. Bank of Montreal Can increased its stake in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares during the period. Earnest Partners LLC raised its holdings in Rio Tinto Group by 1.4% in the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock valued at $88,979,000 after acquiring an additional 19,334 shares in the last quarter. Finally, 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 acquiring an additional 764,635 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on RIO shares. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.6 %

Shares of RIO stock opened at $67.23 on Friday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. 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 firm has a 50-day moving average price of $64.35 and a 200 day moving average price of $66.27.

Rio Tinto Group Cuts Dividend

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

Rio Tinto Group Company 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.