Driehaus Capital Management LLC Acquires 8,268 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• Driehaus Capital Management increased its stake in BHP Group Limited by 53.1%, owning a total of 23,840 shares worth approximately $1,157,000 after acquiring an additional 8,268 shares in Q1.
• BHP Group has announced a semi-annual dividend increase to $1.185, up from $1.00, with a yield of 410.0% and a payout ratio of 44.77%.
• Wall Street analysts have mixed views, with one analyst rating the stock as a Strong Buy while the majority hold a Hold rating, and a target price averaging around $48.50.

Driehaus Capital Management LLC increased its position in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 53.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,840 shares of the mining company's stock after buying an additional 8,268 shares during the quarter. Driehaus Capital Management LLC's holdings in BHP Group were worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp purchased a new stake in shares of BHP Group during the first quarter valued at $26,000. Costello Asset Management INC acquired a new position in BHP Group during the first quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in BHP Group in the 1st quarter worth about $27,000. Compagnie Lombard Odier SCmA acquired a new position in BHP Group in the 1st quarter worth about $32,000. Finally, Vermillion Wealth Management Inc. acquired a new position in BHP Group in the 4th quarter worth about $74,000. Institutional investors and hedge funds own 3.79% of the company's stock.

Analysts Set New Price Targets

BHP has been the topic of several research reports. Berenberg Bank reaffirmed a "sell" rating and issued a $44.00 target price on shares of BHP Group in a research report on Thursday, July 24th. Argus lowered BHP Group from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Macquarie lowered BHP Group from an "outperform" rating to a "neutral" rating in a report on Friday, July 18th. BMO Capital Markets lowered BHP Group from an "outperform" rating to a "market perform" rating in a report on Sunday, July 27th. Finally, Sanford C. Bernstein lowered BHP Group from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $48.50.

BHP Group Stock Performance

NYSE:BHP traded down $1.13 during mid-day trading on Friday, hitting $54.42. 3,269,889 shares of the company's stock traded hands, compared to its average volume of 2,551,148. The firm has a 50 day moving average of $52.84 and a two-hundred day moving average of $49.98. BHP Group Limited Sponsored ADR has a 12 month low of $39.73 and a 12 month high of $63.21. The firm has a market capitalization of $138.00 billion, a price-to-earnings ratio of 12.37 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43.

BHP Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be paid a dividend of $1.185 per share. This represents a yield of 441.0%. The ex-dividend date is Friday, September 5th. This is a positive change from BHP Group's previous semi-annual dividend of $1.00. BHP Group's dividend payout ratio is currently 44.77%.

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