BHP Group Limited Sponsored ADR $BHP Stock Sold by Willis Investment Counsel

Key Points

• Willis Investment Counsel cut its BHP Group stake by 73.5% in the third quarter, selling 243,300 shares and retaining 87,939 shares valued at approximately $7.46 million.
• BHP shares fell 2.0% to $81.52, below the 50-day moving average of $88.53. Analysts maintain a consensus “Hold” rating with an average price target of $78.00.
• The company recently paid a dividend of $1.98 per share, while other institutional investors—including RBC, Rockefeller Capital Management and Quantinno Capital Management— increased their positions.

Willis Investment Counsel cut its holdings in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 73.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,939 shares of the mining company's stock after selling 243,300 shares during the period. Willis Investment Counsel's holdings in BHP Group were worth $7,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Main Street Research LLC bought a new position in BHP Group in the 1st quarter worth approximately $37,767,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of BHP Group in the 1st quarter valued at about $18,591,000. Royal Bank of Canada raised its position in shares of BHP Group by 17.9% in the 1st quarter. Royal Bank of Canada now owns 1,239,402 shares of the mining company's stock valued at $90,153,000 after acquiring an additional 188,446 shares during the period. Rockefeller Capital Management L.P. boosted its stake in BHP Group by 36.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 417,845 shares of the mining company's stock worth $25,225,000 after acquiring an additional 111,967 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in BHP Group by 21.5% during the 1st quarter. Quantinno Capital Management LP now owns 493,604 shares of the mining company's stock worth $35,905,000 after acquiring an additional 87,378 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company's stock.

BHP Group Trading Down 2.0%

Shares of BHP Group stock traded down $1.71 on Tuesday, reaching $81.52. 1,589,682 shares of the company's stock were exchanged, compared to its average volume of 3,158,126. The firm's 50-day moving average is $88.53 and its two-hundred day moving average is $85.18. BHP Group Limited Sponsored ADR has a 52 week low of $52.18 and a 52 week high of $98.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.48.

BHP Group Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Investors of record on Friday, September 4th were issued a dividend of $1.98 per share. The ex-dividend date was Friday, September 4th. This represents a yield of 438.0%.

Wall Street Analyst Weigh In

BHP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of BHP Group in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of BHP Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Citigroup reissued a "neutral" rating on shares of BHP Group in a report on Tuesday, October 13th. Zacks Research cut BHP Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded BHP Group from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $78.00.

BHP Group Company Profile

BHP Group Limited is a global resources company headquartered in Melbourne, Australia. The company explores, develops and operates large-scale mineral assets, with core products including copper, iron ore, metallurgical coal and potash. Its commodities are used in steelmaking, construction, manufacturing, agriculture and technologies supporting the energy transition.

BHP's principal operations are located in Australia, Chile, Canada and Brazil. Major assets include Western Australia Iron Ore, the Escondida and Spence copper operations in Chile, Olympic Dam in South Australia and the Jansen potash project in Saskatchewan, Canada.

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