First Hawaiian Bank Grows Stock Holdings in Rio Tinto Group (NYSE:RIO)

First Hawaiian Bank lifted its stake in Rio Tinto Group (NYSE:RIO) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,512 shares of the mining company’s stock after buying an additional 2,026 shares during the period. First Hawaiian Bank’s holdings in Rio Tinto Group were worth $825,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Rio Tinto Group by 17.3% in the second quarter. GAMMA Investing LLC now owns 1,624 shares of the mining company’s stock worth $107,000 after purchasing an additional 240 shares during the last quarter. Davis Capital Management lifted its holdings in shares of Rio Tinto Group by 10.0% during the second quarter. Davis Capital Management now owns 12,140 shares of the mining company’s stock valued at $806,000 after purchasing an additional 1,099 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Rio Tinto Group by 3.8% in the 2nd quarter. Confluence Investment Management LLC now owns 17,095 shares of the mining company’s stock worth $1,127,000 after acquiring an additional 626 shares during the last quarter. Old Port Advisors raised its holdings in Rio Tinto Group by 19.4% in the 1st quarter. Old Port Advisors now owns 18,272 shares of the mining company’s stock worth $1,165,000 after acquiring an additional 2,969 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Rio Tinto Group in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO traded down $0.69 on Monday, reaching $62.98. 4,053,379 shares of the company’s stock were exchanged, compared to its average volume of 2,721,612. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The stock’s fifty day moving average price is $66.75 and its 200-day moving average price is $66.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RIO. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Hsbc Global Res upgraded 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 research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.