Summit Global Investments Takes Position in BHP Group Limited (NYSE:BHP)

Summit Global Investments bought a new stake in shares of BHP Group Limited (NYSE:BHP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,347 shares of the mining company’s stock, valued at approximately $4,216,000.

A number of other large investors have also recently made changes to their positions in the stock. Palogic Value Management L.P. boosted its stake in shares of BHP Group by 0.5% during the fourth quarter. Palogic Value Management L.P. now owns 82,496 shares of the mining company’s stock valued at $4,028,000 after purchasing an additional 396 shares during the period. Whittier Trust Co. lifted its stake in BHP Group by 24.8% in the fourth quarter. Whittier Trust Co. now owns 9,533 shares of the mining company’s stock worth $465,000 after acquiring an additional 1,894 shares during the period. Horizon Investments LLC lifted its stake in BHP Group by 3.5% in the fourth quarter. Horizon Investments LLC now owns 11,222 shares of the mining company’s stock worth $548,000 after acquiring an additional 382 shares during the period. PDS Planning Inc lifted its stake in BHP Group by 28.2% in the fourth quarter. PDS Planning Inc now owns 8,003 shares of the mining company’s stock worth $391,000 after acquiring an additional 1,759 shares during the period. Finally, Cadence Wealth Management LLC lifted its position in shares of BHP Group by 4.7% during the fourth quarter. Cadence Wealth Management LLC now owns 10,575 shares of the mining company’s stock valued at $516,000 after buying an additional 470 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

BHP Group Stock Performance

BHP opened at $49.23 on Friday. BHP Group Limited has a 52-week low of $48.06 and a 52-week high of $63.21. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.40. The company has a market cap of $124.82 billion, a P/E ratio of 11.19 and a beta of 0.90. The firm’s 50-day moving average price is $50.03 and its 200-day moving average price is $52.54.

BHP Group Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com lowered shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Clarkson Capital raised shares of BHP Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $53.00.

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.