Townsend & Associates Inc Boosts Stock Holdings in BHP Group Limited Sponsored ADR $BHP

Key Points

• Townsend & Associates Inc increased its holdings in BHP Group Limited by 66.6% in the 2nd quarter, now owning over 600,000 shares valued at approximately $31.9 million.
• BHP Group recently raised its semi-annual dividend to $1.185 per share, which represents a significant increase from the previous dividend of $1.00.
• Analysts have mixed ratings on BHP Group, with a consensus of "Hold" and an average target price of $48.50 based on recent evaluations.

Townsend & Associates Inc boosted its position in shares of BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 66.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600,575 shares of the mining company's stock after purchasing an additional 240,075 shares during the period. BHP Group comprises 3.2% of Townsend & Associates Inc's holdings, making the stock its 10th biggest holding. Townsend & Associates Inc's holdings in BHP Group were worth $31,921,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of BHP Group by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,899 shares of the mining company's stock valued at $141,000 after purchasing an additional 1,301 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of BHP Group by 0.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,080 shares of the mining company's stock valued at $3,547,000 after purchasing an additional 521 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of BHP Group during the first quarter valued at approximately $280,000. Avior Wealth Management LLC boosted its stake in shares of BHP Group by 106.1% during the first quarter. Avior Wealth Management LLC now owns 10,895 shares of the mining company's stock valued at $529,000 after purchasing an additional 5,609 shares in the last quarter. Finally, TT Capital Management LLC boosted its stake in shares of BHP Group by 25.4% during the first quarter. TT Capital Management LLC now owns 5,427 shares of the mining company's stock valued at $263,000 after purchasing an additional 1,100 shares in the last quarter. 3.79% of the stock is currently owned by institutional investors.

BHP Group Stock Performance

BHP opened at $55.57 on Monday. The firm has a market capitalization of $141.04 billion, a PE ratio of 12.63, a PEG ratio of 4.03 and a beta of 0.80. BHP Group Limited Sponsored ADR has a twelve month low of $39.73 and a twelve month high of $58.51. The firm's 50-day moving average price is $54.79 and its 200 day moving average price is $51.06. 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 company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were given a $1.185 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a dividend yield of 441.0%. This is a boost from BHP Group's previous semi-annual dividend of $1.00. BHP Group's payout ratio is currently 53.86%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Macquarie cut shares of BHP Group from an "outperform" rating to a "neutral" rating in a research report on Friday, July 18th. Berenberg Bank reissued a "sell" rating and set a $44.00 target price on shares of BHP Group in a research report on Thursday, July 24th. BMO Capital Markets cut shares of BHP Group from an "outperform" rating to a "market perform" rating in a research report on Sunday, July 27th. Weiss Ratings reissued a "hold (c)" rating on shares of BHP Group in a research report on Wednesday, October 8th. Finally, Citigroup reiterated a "neutral" rating on shares of BHP Group in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BHP Group presently has a consensus rating of "Hold" and an average target price of $48.50.

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.

Want to see what other hedge funds are holding BHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.