Legacy Wealth Asset Management LLC Reduces Stock Position in BHP Group Limited Sponsored ADR $BHP

Key Points

• Legacy Wealth Asset Management LLC reduced its stake in BHP Group by 19.6% in Q2, selling 7,469 shares, leaving it with 30,612 shares valued at approximately $1.47 million.
• Several other hedge funds have also made moves regarding their positions in BHP, with a total of 3.79% of the stock now held by institutional investors.
• BHP Group recently increased its semi-annual dividend to $1.185 per share, resulting in a notable yield boost from the previous $1.00 dividend.

Legacy Wealth Asset Management LLC cut its stake in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 19.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,612 shares of the mining company's stock after selling 7,469 shares during the period. Legacy Wealth Asset Management LLC's holdings in BHP Group were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in BHP Group in the first quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new position in BHP Group in the first quarter worth approximately $27,000. Hilltop National Bank purchased a new position in BHP Group in the second quarter worth approximately $32,000. Raleigh Capital Management Inc. purchased a new position in BHP Group in the second quarter worth approximately $58,000. Finally, Flaharty Asset Management LLC purchased a new position in BHP Group during the first quarter worth about $73,000. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BHP has been the subject of several research analyst reports. BMO Capital Markets lowered shares of BHP Group from an "outperform" rating to a "market perform" rating in a research note on Sunday, July 27th. Macquarie lowered BHP Group from an "outperform" rating to a "neutral" rating in a research report on Friday, July 18th. Weiss Ratings restated a "hold (c)" rating on shares of BHP Group in a research report on Wednesday, October 8th. Citigroup restated a "neutral" rating on shares of BHP Group in a research report on Wednesday, August 20th. Finally, Berenberg Bank restated a "sell" rating and set a $44.00 price target on shares of BHP Group in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $48.50.

BHP Group Trading Up 2.2%

NYSE:BHP opened at $56.80 on Tuesday. The firm has a market cap of $144.16 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 4.03 and a beta of 0.80. The stock has a fifty day moving average price of $54.86 and a 200 day moving average price of $51.16. BHP Group Limited Sponsored ADR has a 12-month low of $39.73 and a 12-month high of $58.51. 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 business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were issued a $1.185 dividend. This represents a yield of 441.0%. This is a boost from BHP Group's previous semi-annual dividend of $1.00. The ex-dividend date was Friday, September 5th. BHP Group's dividend payout ratio (DPR) is 53.86%.

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.

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