Rio Tinto Group (NYSE:RIO) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its position in shares of Rio Tinto Group (NYSE:RIO) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,180 shares of the mining company’s stock after purchasing an additional 53,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.05% of Rio Tinto Group worth $42,867,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bank of Montreal Can boosted its position in Rio Tinto Group by 237.0% in 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 buying an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC lifted 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 during the period. First City Capital Management Inc. lifted its stake 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 purchasing an additional 8,230 shares during the period. QRG Capital Management Inc. grew its position in Rio Tinto Group by 38.1% during the second 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 period. Finally, Capstone Investment Advisors LLC purchased a new position in Rio Tinto Group in the first quarter valued at $1,734,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RIO. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.1 %

Shares of RIO opened at $71.17 on Tuesday. The stock has a 50 day moving average price of $63.52 and a 200 day moving average price of $65.93. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock has a market capitalization of $89.14 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.39 and a beta of 0.66.

Rio Tinto Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were issued a $1.77 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 6.8%. Rio Tinto Group’s payout ratio is 50.50%.

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.