Bank of New York Mellon Corp Lowers Stake in BHP Group Limited (NYSE:BHP)

Bank of New York Mellon Corp lessened its stake in shares of BHP Group Limited (NYSE:BHP) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,537 shares of the mining company’s stock after selling 4,074 shares during the period. Bank of New York Mellon Corp’s holdings in BHP Group were worth $6,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Huntington National Bank raised its holdings in BHP Group by 17.5% in the 3rd quarter. Huntington National Bank now owns 1,365 shares of the mining company’s stock valued at $85,000 after acquiring an additional 203 shares during the last quarter. Essex Savings Bank boosted its position in shares of BHP Group by 3.0% during the 4th quarter. Essex Savings Bank now owns 7,483 shares of the mining company’s stock worth $365,000 after purchasing an additional 219 shares during the period. First Horizon Advisors Inc. boosted its position in shares of BHP Group by 4.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 6,012 shares of the mining company’s stock worth $373,000 after purchasing an additional 263 shares during the period. Passumpsic Savings Bank boosted its position in shares of BHP Group by 7.1% during the 4th quarter. Passumpsic Savings Bank now owns 4,873 shares of the mining company’s stock worth $238,000 after purchasing an additional 325 shares during the period. Finally, Gleason Group Inc. boosted its position in BHP Group by 2.4% in the 4th quarter. Gleason Group Inc. now owns 14,155 shares of the mining company’s stock valued at $691,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 3.79% of the company’s stock.

Analyst Ratings Changes

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

BHP Group Stock Up 1.6 %

Shares of NYSE:BHP opened at $49.44 on Monday. The company has a market cap of $125.36 billion, a price-to-earnings ratio of 11.24 and a beta of 0.90. The firm’s 50-day simple moving average is $49.89 and its 200-day simple moving average is $52.69. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.40. BHP Group Limited has a fifty-two week low of $48.06 and a fifty-two week high of $63.21.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 7th will be issued a dividend of $1.00 per share. This represents a yield of 4.8%. The ex-dividend date of this dividend is Friday, March 7th. BHP Group’s dividend payout ratio is currently 44.77%.

About BHP Group

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.