Meeder Asset Management Inc. Raises Stock Position in BHP Group (NYSE:BHP)

Meeder Asset Management Inc. lifted its stake in shares of BHP Group (NYSE:BHP) by 197.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 366 shares of the mining company’s stock after buying an additional 243 shares during the quarter. Meeder Asset Management Inc.’s holdings in BHP Group were worth $27,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in shares of BHP Group by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 8,169,038 shares of the mining company’s stock worth $594,951,000 after buying an additional 187,439 shares during the last quarter. Citigroup Inc. increased its holdings in shares of BHP Group by 11.3% in the 1st quarter. Citigroup Inc. now owns 2,535,028 shares of the mining company’s stock valued at $175,906,000 after acquiring an additional 257,110 shares during the period. Northern Trust Corp increased its holdings in shares of BHP Group by 27.7% in the 1st quarter. Northern Trust Corp now owns 1,866,160 shares of the mining company’s stock valued at $129,493,000 after acquiring an additional 404,952 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of BHP Group by 75.5% in the 1st quarter. Neuberger Berman Group LLC now owns 1,408,247 shares of the mining company’s stock valued at $97,717,000 after acquiring an additional 605,893 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of BHP Group by 806.4% in the 1st quarter. BlackRock Inc. now owns 1,273,156 shares of the mining company’s stock valued at $88,344,000 after acquiring an additional 1,132,686 shares during the period. Institutional investors and hedge funds own 5.62% of the company’s stock.

BHP Group stock opened at $58.11 on Friday. BHP Group has a 52 week low of $46.90 and a 52 week high of $82.07. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $70.75 and its 200 day simple moving average is $72.63. The firm has a market capitalization of $85.59 billion, a PE ratio of 8.62, a P/E/G ratio of 1.58 and a beta of 0.90.

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 21st. Investors of record on Friday, September 3rd will be given a $4.00 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This is a positive change from BHP Group’s previous semi-annual dividend of $2.02. This represents a dividend yield of 9.6%. BHP Group’s payout ratio is currently 118.69%.

A number of brokerages have recently commented on BHP. Royal Bank of Canada reaffirmed an “outperform” rating on shares of BHP Group in a report on Wednesday, August 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of BHP Group in a research note on Tuesday, June 29th. Liberum Capital cut shares of BHP Group from a “hold” rating to a “sell” rating in a research note on Friday, July 2nd. Morgan Stanley raised shares of BHP Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 22nd. Finally, Zacks Investment Research cut shares of BHP Group from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a research note on Monday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1,133.50.

BHP Group Profile

BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.

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Institutional Ownership by Quarter for BHP Group (NYSE:BHP)

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