Pinnacle Associates Ltd. Has $262,000 Stock Holdings in BHP Group Limited (NYSE:BHP)

Pinnacle Associates Ltd. reduced its position in shares of BHP Group Limited (NYSE:BHP) by 11.4% during the third quarter, Holdings Channel reports. The institutional investor owned 3,840 shares of the mining company’s stock after selling 493 shares during the period. Pinnacle Associates Ltd.’s holdings in BHP Group were worth $262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHP. Asset Dedication LLC grew its position in BHP Group by 7,516.7% in 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 during the period. Eastern Bank bought a new position in shares of BHP Group in the third quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BHP Group in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of BHP Group during the second quarter valued at about $27,000. Finally, Sound Income Strategies LLC raised its holdings in shares of BHP Group by 124.6% in the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BHP shares. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research note on Monday, September 16th. StockNews.com raised BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Argus upgraded BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group cut BHP Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $72.00 to $68.00 in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BHP Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

BHP Group Stock Performance

Shares of NYSE BHP opened at $55.94 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. The stock’s 50 day moving average price is $56.38 and its 200-day moving average price is $56.73. 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 disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were given a $1.465 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 5.2%. This is a boost from BHP Group’s previous Semi-Annual dividend of $1.44.

BHP Group Company 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.