Cadence Wealth Management LLC Raises Stock Holdings in BHP Group Limited (NYSE:BHP)

Cadence Wealth Management LLC boosted its holdings in BHP Group Limited (NYSE:BHP) by 14.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,998 shares of the mining company’s stock after acquiring an additional 1,111 shares during the period. BHP Group makes up 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Cadence Wealth Management LLC’s holdings in BHP Group were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cape Investment Advisory Inc. grew its stake in shares of BHP Group by 37.4% during the 3rd quarter. Cape Investment Advisory Inc. now owns 639 shares of the mining company’s stock valued at $36,000 after purchasing an additional 174 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of BHP Group during the 3rd quarter valued at about $37,000. NBC Securities Inc. bought a new stake in shares of BHP Group during the 3rd quarter valued at about $41,000. Parkside Financial Bank & Trust grew its stake in shares of BHP Group by 22.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 894 shares of the mining company’s stock valued at $61,000 after purchasing an additional 165 shares during the period. Finally, Headinvest LLC bought a new position in shares of BHP Group during the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Price Performance

NYSE:BHP traded down $0.78 during midday trading on Friday, hitting $56.43. 4,065,233 shares of the company traded hands, compared to its average volume of 2,768,604. The firm’s fifty day moving average is $57.85 and its 200-day moving average is $60.24. BHP Group Limited has a 12-month low of $54.28 and a 12-month high of $69.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.22 and a current ratio of 1.57.

BHP Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $1.44 per share. This represents a dividend yield of 5.2%. The ex-dividend date was Thursday, March 7th.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BHP shares. Citigroup upgraded BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Liberum Capital reiterated a “hold” rating on shares of BHP Group in a research note on Tuesday, March 5th. Finally, StockNews.com downgraded BHP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.00.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.