Rio Tinto Group (NYSE:RIO) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,177 shares of the mining company's stock after purchasing an additional 9,520 shares during the period. Sumitomo Mitsui Trust Holdings Inc.'s holdings in Rio Tinto Group were worth $4,627,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock worth $26,000 after acquiring an additional 148 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group in the 1st quarter worth about $29,000. Accordant Advisory Group Inc bought a new position in Rio Tinto Group in the 1st quarter valued at about $31,000. Finally, LifeSteps Financial Inc. acquired a new position in Rio Tinto Group during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

RIO has been the subject of several analyst reports. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 21st. Berenberg Bank lowered shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy".

Rio Tinto Group Price Performance

NYSE RIO traded down $0.63 on Thursday, hitting $62.76. 1,761,533 shares of the stock traded hands, compared to its average volume of 2,720,767. 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 business's fifty day moving average is $65.03 and its two-hundred day moving average is $66.29. Rio Tinto Group has a 12 month low of $59.80 and a 12 month high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.