Chesley Taft & Associates LLC Sells 900 Shares of Rio Tinto Group (NYSE:RIO)

Chesley Taft & Associates LLC reduced its position in shares of Rio Tinto Group (NYSE:RIO) by 14.9% in the second quarter, HoldingsChannel reports. The firm owned 5,125 shares of the mining company’s stock after selling 900 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Rio Tinto Group were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RIO. Wellington Management Group LLP grew its stake in shares of Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares during the period. National Bank of Canada FI grew its stake in shares of Rio Tinto Group by 296.2% during the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after acquiring an additional 764,635 shares during the period. SPX Gestao de Recursos Ltda grew its stake in shares of Rio Tinto Group by 560.8% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after acquiring an additional 672,095 shares during the period. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after acquiring an additional 475,329 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Rio Tinto Group by 191.3% during the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after acquiring an additional 470,073 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded up $1.28 on Monday, reaching $62.56. The company’s stock had a trading volume of 552,380 shares, compared to its average volume of 2,718,498. Rio Tinto Group has a 52-week low of $59.31 and a 52-week high of $75.09. The company has a 50-day simple moving average of $65.41 and a 200 day simple moving average of $66.44. 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 Cuts Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on RIO. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently 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.