Hourglass Capital LLC Grows Stake in BHP Group Limited (NYSE:BHP)

Hourglass Capital LLC grew its position in shares of BHP Group Limited (NYSE:BHP) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,566 shares of the mining company’s stock after purchasing an additional 7,411 shares during the period. Hourglass Capital LLC’s holdings in BHP Group were worth $4,818,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of BHP Group during the 3rd quarter valued at $26,000. Asset Dedication LLC grew its position in shares of BHP Group by 7,516.7% during the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after purchasing an additional 451 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in BHP Group in the second quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BHP Group in the second quarter worth $27,000. Finally, Sound Income Strategies LLC grew its position in BHP Group by 124.6% in the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after acquiring an additional 294 shares in the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

BHP Group Stock Performance

BHP Group stock opened at $52.32 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $132.67 billion, a PE ratio of 11.20 and a beta of 0.98. The firm has a fifty day simple moving average of $56.47 and a two-hundred day simple moving average of $56.60. BHP Group Limited has a twelve month low of $50.90 and a twelve month high of $69.11.

BHP Group Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were paid a $1.465 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from BHP Group’s previous Semi-Annual dividend of $1.44. This represents a yield of 5.2%. BHP Group’s payout ratio is currently 62.74%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BHP shares. Argus upgraded shares of BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Jefferies Financial Group lowered shares of BHP Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $72.00 to $68.00 in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, BHP Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.