Naples Global Advisors LLC Trims Stock Position in BHP Group Limited Sponsored ADR $BHP

Naples Global Advisors LLC trimmed its holdings in BHP Group Limited Sponsored ADR (NYSE:BHP) by 8.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,043 shares of the mining company’s stock after selling 450 shares during the quarter. Naples Global Advisors LLC’s holdings in BHP Group were worth $242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHP. Raleigh Capital Management Inc. acquired a new position in shares of BHP Group in the 2nd quarter valued at $58,000. Alpine Bank Wealth Management increased its position in shares of BHP Group by 616.8% during the 2nd quarter. Alpine Bank Wealth Management now owns 4,000 shares of the mining company’s stock worth $192,000 after purchasing an additional 3,442 shares during the last quarter. Addenda Capital Inc. raised its holdings in BHP Group by 27.9% in the 2nd quarter. Addenda Capital Inc. now owns 143,324 shares of the mining company’s stock valued at $6,892,000 after buying an additional 31,283 shares during the period. Uncommon Cents Investing LLC lifted its position in BHP Group by 41.6% in the second quarter. Uncommon Cents Investing LLC now owns 6,600 shares of the mining company’s stock valued at $317,000 after buying an additional 1,940 shares during the last quarter. Finally, Sage Rhino Capital LLC lifted its position in BHP Group by 7.5% in the second quarter. Sage Rhino Capital LLC now owns 11,005 shares of the mining company’s stock valued at $529,000 after buying an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Stock Performance

Shares of BHP stock opened at $55.43 on Friday. The firm has a 50 day moving average of $53.97 and a two-hundred day moving average of $50.57. The stock has a market capitalization of $140.68 billion, a PE ratio of 12.60, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.43. BHP Group Limited Sponsored ADR has a 52 week low of $39.73 and a 52 week high of $61.03.

BHP Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were issued a dividend of $1.185 per share. This is a positive change from BHP Group’s previous semi-annual dividend of $1.00. The ex-dividend date was Friday, September 5th. This represents a yield of 441.0%. BHP Group’s dividend payout ratio (DPR) is currently 53.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BHP shares. Weiss Ratings reissued a “hold (c)” rating on shares of BHP Group in a research note on Saturday, September 27th. Argus lowered BHP Group from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Berenberg Bank restated a “sell” rating and set a $44.00 price target on shares of BHP Group in a research note on Thursday, July 24th. BMO Capital Markets cut BHP Group from an “outperform” rating to a “market perform” rating in a research note on Sunday, July 27th. Finally, Macquarie downgraded BHP Group from an “outperform” rating to a “neutral” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.

About BHP Group

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, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.