Lord Abbett & CO. LLC Has $27.43 Million Stock Holdings in BHP Group Limited (NYSE:BHP)

Lord Abbett & CO. LLC lowered its stake in shares of BHP Group Limited (NYSE:BHP - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 561,651 shares of the mining company's stock after selling 114,044 shares during the period. Lord Abbett & CO. LLC's holdings in BHP Group were worth $27,425,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BHP. Raymond James Financial Inc. purchased a new position in BHP Group during the fourth quarter worth approximately $25,878,000. Norges Bank purchased a new stake in BHP Group during the 4th quarter worth approximately $20,574,000. Fisher Asset Management LLC raised its holdings in BHP Group by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 22,225,134 shares of the mining company's stock valued at $1,085,253,000 after acquiring an additional 280,258 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in BHP Group in the fourth quarter valued at about $9,323,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of BHP Group during the 4th quarter valued at approximately $8,795,000. Institutional investors and hedge funds own 3.79% of the company's stock.

BHP Group Price Performance

Shares of BHP traded up $1.20 during mid-day trading on Friday, reaching $48.91. The company had a trading volume of 1,582,688 shares, compared to its average volume of 2,523,962. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. The company has a market capitalization of $124.01 billion, a P/E ratio of 11.11 and a beta of 0.86. BHP Group Limited has a twelve month low of $39.73 and a twelve month high of $63.21. The company's 50-day moving average is $47.79 and its 200-day moving average is $50.45.

BHP Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 7th were paid a $1.00 dividend. The ex-dividend date was Friday, March 7th. This represents a dividend yield of 4.8%. BHP Group's dividend payout ratio is presently 44.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BHP shares. StockNews.com lowered BHP Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th. Clarkson Capital upgraded shares of BHP Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group decreased their price target on BHP Group from $57.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $53.00.

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