Sit Investment Associates Inc. Sells 650 Shares of BHP Group Limited (NYSE:BHP)

Sit Investment Associates Inc. lowered its stake in BHP Group Limited (NYSE:BHP) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,000 shares of the mining company’s stock after selling 650 shares during the period. Sit Investment Associates Inc.’s holdings in BHP Group were worth $1,953,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of BHP Group by 17.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 153,170 shares of the mining company’s stock worth $9,513,000 after purchasing an additional 22,677 shares during the period. Townsquare Capital LLC bought a new position in BHP Group during the 3rd quarter worth $227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of BHP Group by 42.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,169 shares of the mining company’s stock worth $73,000 after buying an additional 351 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of BHP Group by 13.0% in the third quarter. Wellington Management Group LLP now owns 5,603,624 shares of the mining company’s stock valued at $348,041,000 after acquiring an additional 642,765 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in BHP Group during the third quarter worth about $648,000. 3.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BHP. Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group lowered their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Two investment 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.00.

BHP Group Stock Performance

Shares of NYSE:BHP opened at $42.08 on Monday. BHP Group Limited has a 1 year low of $40.66 and a 1 year high of $63.21. The stock has a market capitalization of $106.69 billion, a price-to-earnings ratio of 9.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. The company’s 50 day simple moving average is $49.71 and its 200 day simple moving average is $52.23.

BHP Group Cuts Dividend

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

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.